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

February may fly by, but it’s often one of the priciest months of the year. Between Valentine’s Day gifts, thoughtful surprises, and major Presidents’ Day sales events, many people make high-value purchases that hold sentimental and financial importance. That’s why it’s essential to ensure the items you’re buying are well protected long before they’re in everyday use.

It’s easy to focus on choosing the perfect ring, enjoying a great car deal, or finally purchasing that artwork you’ve admired. But before you present a gift, display it, or drive it home, it’s important to confirm that your insurance is ready to step in if the unexpected happens.

This updated blog walks through the most important insurance considerations for purchases traditionally made in February—like jewelry, art, collectibles, and new vehicles—along with smart recordkeeping habits that can make things significantly easier down the road.

Why Coverage Should Be in Place Before You Use or Gift Something

When you buy something valuable, waiting to sort out the insurance can lead to unnecessary risk. Items can be stolen, broken, or misplaced at any point—sometimes even before they’re officially given as gifts or used for the first time. Because of this, the safest approach is ensuring coverage is active immediately upon purchase.

This is especially true for February purchases such as engagement rings, watches, Presidents’ Day car deals, or fine art. Each comes with unique coverage needs. The key is making sure your protection aligns with both the item’s value and the type of risks it may face.

Jewelry, Fine Art, and Collectibles: What Standard Homeowners Policies Don’t Always Cover

Many people assume that their homeowners insurance fully covers high-value belongings. In reality, most standard policies limit how much they’ll pay for certain categories, especially jewelry and artwork. It’s common for these limits to fall in the $1,000–$5,000 range—far below the worth of many gifts and collectibles.

To get full protection, additional coverage is often needed. Jewelry, artwork, and notable collectibles may require their own coverage beyond your homeowners policy. Adding a scheduled personal property endorsement ensures that if the item is lost, stolen, or damaged, you can be reimbursed for its appraised value. These endorsements can also cover situations that a typical homeowners policy wouldn’t, such as accidental loss or mysterious disappearance.

Most insurers will require a current appraisal before they schedule an item, and it’s wise to update those appraisals every few years to keep your coverage accurate. Some fine art collections may even benefit from a specialized policy that covers transport, restoration needs, and damage anywhere in the world—especially helpful if you loan pieces to galleries or frequently move them.

A few important reminders for February gift-giving:

• If jewelry or collectibles change ownership, the insurance won’t transfer automatically. The new owner must add them to their own policy.
• For more expensive pieces, consider standalone coverage such as “personal articles” or “valuable items” insurance, which many major carriers offer.
• Always keep receipts, appraisals, serial numbers, and photos. These are essential for securing accurate coverage and verifying value if you ever file a claim.

While some items may be priceless emotionally, your insurance should still reflect their financial value.

Buying a New Vehicle? Understand Grace Periods and What Comes Next

Presidents’ Day sales make February a popular time for purchasing new cars, trucks, and SUVs. The good news is that most insurers automatically provide temporary coverage for a newly purchased vehicle, typically lasting between seven and 30 days. During that period, the new car generally receives the same type and level of coverage as another vehicle already listed on your policy.

However, there are a few key details to be aware of:

• The grace period applies only if you already have an active auto policy on another car. Without current coverage, you’ll need to obtain a policy before driving your new vehicle.
• If you insure multiple cars, your new vehicle usually receives the broadest coverage among them—though only until the grace period expires.
• Your temporary protection mirrors your existing policy. For example, if you currently carry liability-only insurance, your new car will also have liability-only until you make updates.

Before that grace period ends, make sure your new vehicle is properly added to your policy. If it’s leased or financed, your lender will likely require comprehensive and collision coverage—and may also recommend or mandate gap insurance, which covers the difference between your loan balance and the car’s actual cash value.

Also remember to remove your old vehicle from your policy if it’s being replaced. Otherwise, you may accidentally continue paying for coverage you no longer need.

Whenever you purchase a new car, make sure to:

• Contact your insurer right away—or at least within the grace period—to update your policy.
• Adjust your limits and deductibles based on the value of your new vehicle.
• Update information such as who drives the car, where it’s parked, and whether it’s for personal or business use.
• Keep your bill of sale, registration, and updated insurance ID card somewhere safe and accessible.

Taking care of these steps early ensures your new vehicle is properly covered from the moment it becomes yours.

Smart Recordkeeping Makes Everything Easier

Whether your February purchases include jewelry, fine art, collectible items, or a vehicle, good documentation goes a long way in simplifying claims and adjusting coverage in the future.

Make sure to store receipts, appraisals, serial numbers, and other documentation. To take organization a step further:

• Save digital backups of photos, receipts, appraisals, and VINs in secure cloud storage.
• Photograph new items, including distinctive details, to help with identification if needed.
• Review your home and auto policies annually or after major purchases to keep coverage aligned with what you own.
• Ask your agent about possible discounts for bundling policies or adding valuable items.

These simple steps create a clear record that makes the insurance process smoother and more efficient.

Running Behind on Updating Coverage? Don’t Stress

If you bought something months—or even a year—ago and still haven’t updated your insurance, you’re not alone. Busy schedules and the excitement of a new purchase often push this task to the bottom of the list.

The good news is that it’s never too late to get the right protection. An agent can review what you’ve purchased, determine whether anything needs to be scheduled separately, and update your coverage going forward.

Final Thoughts: Enjoy the Season and Protect What Matters

February brings sentimental gifts, big purchases, and meaningful moments. Whether it’s an engagement ring, a new vehicle, a special piece of art, or a collectible with personal significance, taking time to verify your coverage ensures your investment is protected from the start.

If you’re planning a purchase—or have something new you still need to insure—reach out anytime. A quick conversation can give you confidence that your valuables are properly covered so you can enjoy them without worry.