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

February may fly by, but it often comes with some of the priciest shopping of the year. Romantic jewelry, thoughtful gifts, and major holiday weekend sales—especially for cars—can all add up quickly. These purchases usually carry both emotional and financial weight, making it essential to ensure they’re properly protected from day one.

It’s natural to focus on finding the perfect present or jumping on a great deal. But before you slip on new jewelry, hang artwork in your home, or start the engine of a newly purchased car, there’s an important step that deserves your attention: confirming that your insurance provides the coverage you need if something unexpected happens.

Below, we’ll explore the must-know insurance considerations for Valentine’s Day and Presidents’ Day purchases—from fine jewelry and artwork to brand-new vehicles—along with a few simple recordkeeping practices that can make your life easier later.

Why It’s Important to Review Coverage Before Using or Gifting an Item

High-value items don’t wait to get damaged, lost, or stolen—which is why your coverage shouldn’t wait either. Problems can occur the moment you leave the store, while you’re traveling, or even as a gift is being exchanged. For valuables, the safest approach is to lock in coverage before the item changes hands or becomes part of your daily life.

February purchases often fall into categories that require extra care: an engagement ring, a designer watch, a Presidents’ Day vehicle, or a newly acquired art piece. Each comes with its own risks and coverage requirements. The key is making sure your insurance reflects the true value of the item so you aren’t caught off guard by gaps in protection later.

Jewelry, Artwork, and Collectibles: Looking Beyond a Basic Homeowners Policy

Many people assume their homeowners policy fully covers all valuables—but most standard policies place caps on certain categories. Jewelry and fine art commonly fall under these limits, and payouts can be restricted to amounts as low as $1,000–$5,000. If your gift or collection exceeds that range, you could be underinsured without realizing it.

To avoid this, additional protection is often needed. Items like jewelry, artwork, or collectibles may require their own coverage separate from your homeowners policy. A scheduled personal property endorsement (sometimes called a rider) can ensure that the insured amount matches the item’s full appraised value. These endorsements may also include protections usually missing from a basic policy, such as accidental breakage or mysterious disappearance.

Insurers generally require a recent appraisal to schedule an item, and it’s wise to refresh these valuations every two to three years. Certain fine art collections might even need a specialized policy, which can cover things like transportation, restoration, and worldwide protection—helpful if you move pieces between homes, galleries, or exhibitions.

A few reminders for high-value Valentine’s Day gifts and similar purchases:

• If you give or inherit jewelry, the insurance does not automatically shift to the new owner—they must add the item to their own policy.
• For especially valuable pieces, explore dedicated coverage options for personal articles, often available through major insurers such as Travelers, State Farm, or Liberty Mutual.
• Hold onto your receipts, photos, appraisals, and serial numbers. These details help establish coverage and make any future claims much smoother.

Sentimental items may be priceless emotionally, but you can still protect their financial worth with the right insurance setup.

New Vehicles: Understanding Grace Periods and Next Steps

Presidents’ Day tends to be a popular time for vehicle purchases, and most insurers offer a grace period that temporarily applies your existing auto coverage to a newly acquired car. Depending on your provider, this window can last anywhere from seven to 30 days, with many companies landing between 14 and 30 days. During this period, the new car usually adopts the broadest coverage you already carry on another vehicle.

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

• Grace periods typically apply only if you already have an active auto policy. If not, you’ll need coverage before driving your new car.
• When multiple cars are insured, the new vehicle usually receives the highest level of coverage among them—but only temporarily.
• Your new car will mirror the coverage of your existing vehicle. If you currently have liability-only coverage, your new vehicle will temporarily carry the same until you update your policy.

Before the grace period expires, make sure your new car is officially added to your policy. If you’re financing or leasing, the lender will almost certainly require collision and comprehensive coverage, and they may also request gap insurance to cover the difference between the car’s value and what you owe.

Also remember to remove any traded-in or sold vehicles from your policy to avoid paying for coverage you no longer need.

When purchasing a new vehicle, it’s smart to:

• Notify your insurer immediately—or as soon as possible—to update your policy.
• Adjust coverage and deductibles to reflect the new car’s value.
• Update driver information, garaging address, and usage details (personal, business, commute, etc.).
• Keep your bill of sale, insurance cards, and registration handy for verification and future claims.

A quick call or email to your insurance agent ensures your new vehicle is properly covered right from the start.

Recordkeeping: A Small Effort That Makes a Big Difference

Whether you’re insuring jewelry, art, collectibles, or a vehicle, keeping organized records is one of the most effective ways to protect yourself. Your insurer will likely require documentation to establish ownership and value, but good recordkeeping also streamlines the claims process.

To stay prepared, consider the following habits:

• Store digital copies of receipts, appraisals, photos, and VINs in secure cloud storage.
• Photograph new purchases from multiple angles, including any unique or identifying features.
• Review your home and auto policies annually—or whenever you make a major purchase—to ensure your coverage aligns with what you own.
• Ask your agent if adding new items qualifies you for bundling discounts or other savings opportunities.

Simple organizational steps can create a clear record that helps your insurance company respond quickly and accurately when you need support.

If You Haven’t Updated Your Coverage Yet, You’re Not Alone

If you meant to update your coverage weeks—or even months—after a purchase but never got around to it, don’t worry. Life gets busy, and it’s common for insurance updates to fall to the bottom of the to-do list.

The good news is that it’s not too late. An insurance agent can walk you through the items you’ve purchased, suggest whether they should be scheduled, and help adjust your policies so they truly reflect your current needs.

Final Thoughts: Protect What Matters Most This February

Valentine’s Day and Presidents’ Day often bring special purchases—sparkling jewelry, meaningful art, new vehicles, and unique collectibles. Taking a little time to secure the right coverage ensures that these happy moments stay protected, both emotionally and financially.

If you’re bringing something new into your life this February—or if there’s a recent purchase you haven’t insured yet—I’m here to help. A short conversation can give you peace of mind, so you can enjoy your new piece of jewelry, artwork, or vehicle knowing you’ve taken the right steps to safeguard it.