How to Protect Your Valentine’s and Presidents’ Day Purchases

February may be brief, but it is often one of the most purchase-heavy months of the year. Romantic gifts, fine jewelry, unique art, and big-ticket Presidents’ Day car deals can all bring sentimental and financial weight. With so much value packed into a short month, making sure these items are properly insured is just as important as selecting the perfect gift or scoring the right sale.

It’s easy to get wrapped up in the excitement of a new piece of jewelry, a long-awaited painting, or a new car sitting on the lot. But before these items are worn, displayed, or driven away, it’s worth double-checking that your insurance will fully protect them if something unexpected happens. The guidance below covers key protections to consider for common Valentine’s Day and Presidents’ Day purchases and offers simple recordkeeping strategies that can save time and stress later.

Why It’s Smart to Confirm Coverage Early

With high-value items, waiting to sort out insurance can create real risks. Loss, theft, or damage can occur almost immediately—sometimes even before a gift is opened or before a new car leaves the dealership parking lot. Ensuring coverage is in place early is one of the best ways to protect both your investment and your peace of mind.

February’s popular purchases, such as engagement jewelry, designer watches, holiday car deals, and specialty art pieces, all come with different insurance needs. The goal is simple: make sure the coverage you have matches the item’s value and the risk involved, so you’re not surprised by gaps later.

Jewelry, Fine Art, and Collectibles: Understanding Homeowners Policy Limits

Many people assume their homeowners insurance automatically covers valuable household items in full. In reality, most policies include strict limits—especially for fine art and jewelry. Claims for these items under a standard policy can be capped at a few thousand dollars, which may fall far short of the item’s true value.

This is where additional protection becomes essential. High-value pieces such as fine jewelry, collectibles, or artwork may require separate coverage to ensure they are fully insured. A scheduled personal property endorsement allows you to insure specific items for their appraised value, and it often includes protections that standard policies don’t offer, such as mysterious disappearance or accidental damage.

To schedule an item, insurers generally request a current appraisal, and those values should be reviewed every few years to ensure accuracy. For fine art, a specialized policy may provide the most comprehensive protection, including coverage for transportation, restoration, and worldwide handling—important if you plan to move, loan, or travel with pieces.

A few reminders for high-value February gifts:

• If you give or receive jewelry, the insurance does not automatically transfer. The recipient must add the item to their own policy.
• For exceptionally valuable pieces, consider separate “valuable items” or “personal articles” coverage offered by many major carriers.
• Hold onto receipts, appraisals, photos, and identifying details. These documents help establish ownership and simplify future claims.

While the emotional meaning of a gift can’t be insured, its financial value certainly can—and should be.

New Cars and Presidents’ Day Sales: Understanding Temporary Coverage

Presidents’ Day is known for major auto deals, and many insurers provide automatic temporary coverage for newly purchased vehicles. This grace period often lasts between seven and 30 days, with many policies offering 14–30 days of protection. During this window, the new vehicle typically receives the same coverage limits and types as the broadest vehicle already on your existing policy.

However, there are a few key details to keep in mind:

• This grace period generally only applies if you already have an active auto policy with at least one insured vehicle.
• If you insure multiple cars, the new one usually defaults to the most extensive level of coverage temporarily.
• If your current car only carries liability, your new purchase typically receives liability-only coverage until you formally update the policy.

Before the grace period ends, be sure the new vehicle is officially added to your policy. Financing and leasing agreements nearly always require comprehensive and collision coverage, and some lenders may also recommend or require gap insurance to cover the difference between the loan balance and the car’s current value.

And if you’re trading in or selling an older vehicle, don’t forget to remove it from your policy so you’re not paying for unnecessary coverage.

Whenever you purchase a new vehicle, make it a habit to:

• Notify your insurer before leaving the dealership or shortly after to update your coverage.
• Review and adjust deductibles and limits to match the new car’s value.
• Update information such as drivers, garage location, and how the vehicle will be used.
• Keep important documents like the bill of sale and registration accessible for everyday use and claims purposes.

A quick call or message to your insurance agent can help ensure your new purchase is fully protected from the start.

Recordkeeping Tips for Smooth Claims and Coverage

Whether you’re bringing home jewelry, art, collectibles, or a new vehicle, organized records are one of the most valuable tools you have. Keeping track of documentation not only helps establish coverage but also makes claim processes significantly faster and easier.

Helpful habits include:

• Storing digital copies of receipts, appraisals, photos, and VINs securely online.
• Photographing new purchases from multiple angles, including any unique features.
• Reviewing your home and auto policies annually or after major purchases to ensure coverage aligns with what you own.
• Asking your agent about bundling discounts after adding new items or vehicles.

Good documentation creates a clear trail that allows insurers to verify and process claims efficiently if something goes wrong.

If You’re Late Updating Coverage, You Still Have Options

If you bought something weeks or even months ago and never handled the insurance, you’re not alone. It’s easy to get busy—or simply excited about using the new item—and forget to update your policies. Fortunately, agents can still help you review what you’ve purchased, determine whether scheduling is appropriate, and align your coverage moving forward.

Protect the Purchases That Make February Special

February often brings meaningful gifts and major purchases, from jewelry to vehicles to one-of-a-kind art pieces. Taking a little extra time to confirm your insurance coverage helps protect both the emotional and financial value behind these items.

If you’re planning to make a new purchase this month—or if you’re catching up on recent ones—help from an insurance professional can make the process simple and stress-free. With the right coverage in place, you can enjoy your new items knowing they’re protected.