Safeguard Your Valentine’s Day and Presidents’ Day Purchases This February

February may be the shortest month of the year, but it’s often one of the most expensive. Between Valentine’s Day gifts, romantic surprises, and the rush of Presidents’ Day car deals, many people make meaningful purchases during this stretch of winter. These items frequently hold both emotional and financial significance, which makes protecting them an essential part of responsible ownership.

Finding the perfect piece of jewelry or scoring a great vehicle deal is exciting, but before you slip on that ring, hang new art, or drive off in a new car, it’s important to confirm that your insurance coverage is ready to support you if something unexpected happens. This rewritten blog highlights key coverage considerations for February purchases—including jewelry, fine art, collectibles, and vehicles—and shares practical recordkeeping habits that can save you stress down the road.

Why You Should Review Coverage Before Gifting or Using New Purchases

With high-value purchases, waiting until later to check your insurance can be a costly mistake. Items can be lost, damaged, or stolen immediately—during the drive home, while traveling, or even before the gift is officially opened. For certain valuables, the safest approach is to have coverage in place before the item changes hands or becomes part of your daily routine.

This is especially relevant in February. A piece of jewelry intended for a proposal, a brand-new car bought during a holiday sale, or a newly acquired art piece all come with specific coverage needs. The goal is simple: make sure your insurance aligns with the value and risk of the item so that you’re not hit with an unexpected gap when you need support the most.

Jewelry, Fine Art & Collectibles: What Standard Homeowners Insurance Doesn’t Cover

Many people assume their homeowners insurance automatically covers every high-value item in their home, but that’s not always the case. Most standard policies include coverage limits—called sublimits—on categories like jewelry, art, and collectibles. These limits often fall between $1,000 and $5,000, which may be far below the true value of what you’ve purchased.

This is where additional protection becomes essential. Jewelry, fine art, and collectibles often require separate coverage to ensure full reimbursement in the event of a loss. A scheduled personal property endorsement (also called a rider) can guarantee that your insurer covers the full appraised value, and it may also include protection for types of losses that a standard policy doesn’t cover—such as mysterious disappearance or accidental damage.

Most insurers require a current appraisal to schedule an item, and it’s wise to update these values every few years so your coverage remains accurate. Fine art may even need a specialty policy that includes protections for storage, transportation, restoration, or international travel—especially if you loan artwork to galleries or relocate frequently.

Keep these reminders in mind when buying Valentine’s Day gifts or other high-value treasures:

• Transferring ownership doesn’t transfer coverage—gifts need to be added to the recipient’s policy.
• For especially expensive pieces, consider dedicated “valuable items” or “personal articles” coverage, offered by many major insurers.
• Hold onto receipts, appraisal documents, photographs, and serial numbers to support both coverage and future claims.

A special piece of jewelry or unique collectible may be priceless emotionally, but the financial side deserves equal protection through appropriate insurance.

Buying a New Vehicle? Understand Grace Periods and Policy Updates

Presidents’ Day is widely known for auto sales, and many people drive home a new car, truck, or SUV during this long weekend. Fortunately, most insurers offer automatic temporary coverage for newly purchased vehicles. This grace period typically lasts between seven and 30 days, with many companies falling in the 14- to 30-day range. During this time, the new car usually inherits the coverage of the most protected vehicle already on your policy.

However, there are several important details to understand:

• The grace period generally applies only if you already have an active auto policy. If you do not currently have insurance, you’ll need a policy before driving the vehicle.
• If you insure multiple cars, the new vehicle often adopts the broadest existing coverage—but only temporarily.
• The temporary protection mirrors your current coverage. If your older vehicle only has liability insurance, the new one will too until you update the policy.

Before the grace window closes, be sure to add the new car to your policy and review your coverage details. If you’re leasing or financing the vehicle, your lender will likely require both collision and comprehensive insurance. They may also recommend gap coverage to protect against the difference between the car’s loan balance and its actual cash value.

If you’re trading in or selling an older vehicle, remember to remove it from your policy so you’re not paying for unnecessary coverage.

Whenever you purchase a vehicle—whether during Presidents’ Day sales or at any other time—make these steps part of your routine:

• Notify your insurer before driving off the lot or shortly after purchase.
• Adjust policy limits and deductibles to reflect your new vehicle’s value.
• Update driver information, storage address, and how the vehicle will be used.
• Save digital and physical copies of important documents like the bill of sale and registration.

Recordkeeping Tips That Make Claims Easier

No matter what type of item you’ve purchased—jewelry, art, collectibles, or a vehicle—good recordkeeping is incredibly valuable. Organized documentation helps you obtain proper coverage and makes any potential claims process faster and more straightforward.

Consider developing these habits:

• Store receipts, appraisal documents, and serial numbers in a secure but accessible place.
• Keep digital backups of key documents and photos in cloud storage.
• Photograph new items from multiple angles, including distinguishing markings.
• Review your home and auto policies annually or after major purchases to confirm coverage remains up to date.
• Ask your agent about potential discounts for bundling coverages after you add new valuables or vehicles.

If You’re Behind on Coverage, Don’t Stress

If you bought something recently—or even months ago—and forgot to review your insurance, you’re certainly not the only one. Life gets busy and exciting purchases can distract from administrative tasks.

The good news is that it’s not too late. Your insurance agent can help evaluate what you’ve purchased, determine whether additional coverage is needed, and update your policies so you’re better protected moving forward.

Final Thoughts: Protect What Matters Most This February

Valentine’s Day and Presidents’ Day often come with memorable purchases—sparkling jewelry, meaningful artwork, classic collectibles, or a long-awaited new vehicle. Taking a few minutes to verify your insurance coverage before using or gifting these items is a simple but powerful way to protect both your financial investment and your peace of mind.

If you’re planning a meaningful purchase this February, or if you have items you’ve been meaning to insure, now is the perfect time to get everything in order. A quick conversation with your insurance professional can ensure your valuables are properly protected so you can enjoy them without worry.