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

February may be brief, but it’s often one of the costliest months of the year. Between Valentine’s Day gifts, sentimental surprises, and attention‑grabbing Presidents’ Day auto deals, many people bring home meaningful items that hold both emotional and financial weight. With so much value wrapped into these purchases, making sure they’re properly insured is an essential step.

It’s natural to focus on the exciting part—choosing the perfect piece of jewelry, scoring a great price on a new car, or finally investing in a piece of art you’ve admired for years. Still, before you place a gift in someone’s hands or put your new purchase to use, it’s crucial to confirm your insurance offers the protection you expect.

This rewritten blog outlines the key coverage considerations for February’s most common purchases, including jewelry, artwork, collectibles, and vehicles, as well as practical recordkeeping habits that can help streamline any future claims.

Why Insurance Should Come First

With high‑value items, waiting too long to review your coverage can leave you exposed. Losses can happen immediately—during transit, while traveling, or even as a gift is exchanged. That’s why it’s wise to ensure your insurance is updated before an item is worn, displayed, or driven.

The timing matters even more in February. Engagement rings, collectible watches, discounted vehicles, and new works of art each have unique risks to consider. The goal is simple: align your insurance with the value of the purchase so that if something happens, you’re not left navigating unexpected gaps in coverage.

Jewelry, Artwork, and Collectibles: Going Beyond Basic Homeowners Policies

Many people believe their homeowners insurance automatically protects their valuables at full value. In reality, most standard policies include sublimits for categories such as fine art and jewelry. Payouts for these items under a standard policy are often capped between $1,000 and $5,000—far below the worth of most high‑end pieces.

For this reason, additional coverage is often necessary. Items like jewelry, fine art, or rare collectibles typically require their own protection to ensure they’re covered at their true value. A scheduled personal property endorsement can protect an item up to its appraised amount and may include coverage for accidents or mysterious disappearance—situations that aren’t always included under standard homeowners policies.

Most insurers require an up‑to‑date appraisal when scheduling valuables. Those values should be reviewed every two or three years to ensure your coverage stays accurate. For fine art, you may even need a specialty policy that includes protection during transport, restoration services, and coverage anywhere in the world—especially helpful if you move items between locations or loan pieces to galleries.

Here are a few additional reminders when gifting or acquiring valuable pieces:

• Insurance does not automatically transfer when jewelry is given or inherited—the new owner must add it to their own policy.
• High‑value items may benefit from standalone valuable articles policies offered by companies such as Travelers, State Farm, and Liberty Mutual.
• Keep important documents such as appraisals, receipts, photos, and serial numbers. These records help verify ownership and value if a claim ever arises.

While the emotional significance of a gift is irreplaceable, the financial aspect can be protected with the proper insurance.

Buying a New Vehicle: Grace Periods and Smart Updates

Presidents’ Day is famously associated with major car deals. Thankfully, most insurers automatically extend temporary coverage to newly purchased vehicles if you already have an active auto policy. This grace period typically lasts between seven and 30 days, with many insurers falling in the 14- to 30-day range. During this time, your new car generally receives the same coverage as another car already listed on your policy.

Still, a few important details are worth noting:

• The grace period only applies if you have an existing auto policy. If you don’t currently have coverage, you’ll need a policy before you drive your new vehicle.
• If you insure multiple vehicles, the new car usually adopts the broadest coverage among them—but only until the grace period ends.
• Temporary protection mirrors your current policy. If your existing car carries liability only, the new vehicle will also have liability until you update your coverage.

Before the grace window closes, add your new car to your auto policy and confirm your coverage is appropriate for its value. Lenders typically require collision and comprehensive coverage on financed or leased vehicles and may also require gap insurance to protect against owing more than the car’s actual cash value.

If you’ve traded in or sold your old vehicle, make sure it’s removed from your policy so you aren’t paying for coverage unnecessarily.

Whenever you purchase a vehicle—February or otherwise—make a habit of:

• Contacting your insurer before leaving the dealership or as soon as possible afterward.
• Adjusting coverage and deductibles to match your comfort level and the car’s worth.
• Updating details like drivers, addresses, and usage type (commuting, business, personal, etc.).
• Keeping copies of your bill of sale, registration, and insurance ID card for everyday use and any future claims.

A quick call to your agent can help ensure your new vehicle is adequately protected from the moment you take possession.

Smart Recordkeeping for Smooth Claims

Whether you’re insuring a car, jewelry, art, or other valuables, organized documentation is one of the most helpful tools you can maintain.

Retain receipts, appraisals, and serial numbers—these are essential for establishing coverage and verifying value. To stay even more prepared, consider these steps:

• Store digital versions of key documents, photos, and VINs in secure cloud storage.
• Photograph new items from multiple angles to assist with identification during claims.
• Review your home and auto policies annually or after major purchases to ensure coverage limits match what you own.
• Check with your agent about possible bundling discounts after adding valuables or vehicles; expanding coverage can sometimes lower your overall costs.

These small habits create a clear trail of documentation that helps your insurer respond quickly and accurately if you ever need support.

If You’re Running Behind, Don’t Stress

If you brought home something special last month—or even last year—and haven’t gotten around to updating your insurance, you’re far from alone. It’s easy to get swept up in enjoying a new purchase and postpone the administrative side.

The good news: you can still take action. An agent can review what you’ve purchased, help you determine whether specific items need to be scheduled, and update your coverage so everything aligns with your lifestyle moving forward.

Enjoy February While Protecting What Matters

Between Valentine’s Day and Presidents’ Day, this time of year often comes with memorable new additions—sparkling jewelry, upgraded vehicles, meaningful artwork, or collectibles with personal significance. Spending a little time ensuring these items are properly insured is a simple way to protect both their emotional and financial value.

If you’re adding something new to your life this season—or if you’ve been meaning to insure a recent purchase—now is the perfect moment to review your coverage and gain peace of mind.