Safeguarding Your Valentine’s and Presidents’ Day Purchases

February may fly by, but it’s often one of the most expensive months of the year. Between Valentine’s Day gifts, heartfelt surprises, and the wave of Presidents’ Day vehicle sales, many people make meaningful purchases during this stretch of winter. These items often carry both emotional and financial weight, which makes protecting them from day one incredibly important.

It’s easy to get wrapped up in the excitement—choosing the perfect ring, bringing home a new piece of art, or signing the papers for that long‑awaited car. But before you gift it, wear it, hang it, or take it for a spin, there’s one step you don’t want to overlook: making sure your insurance provides real protection if something unexpected happens.

This blog breaks down the essential coverage considerations for popular Valentine’s Day and Presidents’ Day purchases—like jewelry, artwork, collectibles, and brand‑new vehicles—along with some simple recordkeeping habits that can help you avoid headaches down the road.

Why Insurance Should Come Before Gifting or Using a New Item

When it comes to high‑value items, waiting until “later” to review coverage can leave you vulnerable. Losses can happen at any moment—on the way home from the jeweler, during travel, or even while the gift is being opened. For some items, the safest approach is to secure appropriate insurance before the gift exchange or before you start using the purchase yourself.

This is particularly relevant in February. Whether it’s an engagement ring, a luxury watch, a newly negotiated car deal, or a piece of fine art, each of these items carries its own insurance needs. The goal is to match your coverage with the value of the purchase so you’re not caught off guard by coverage gaps when you need help the most.

Jewelry, Artwork, and Collectibles: Why Standard Homeowners Insurance Isn’t Always Enough

Many people assume their homeowners or renters policy automatically covers valuable items at full value, but that’s rarely the case. Most policies include low sublimits for categories like jewelry, fine art, and collectibles. Often, payouts for these items are capped in the $1,000–$5,000 range—an amount that may fall far short of the item’s actual worth.

That’s where supplemental coverage comes in. Expensive jewelry, art pieces, and collectibles often need additional protection beyond a standard policy. A scheduled personal property rider (also known as an endorsement) ensures the item is covered for its full appraised value. These riders often provide broader protection as well, covering scenarios like accidental damage or unexplained disappearance that aren’t typically included in basic homeowners coverage.

Most insurers require a recent appraisal to schedule an item, and it’s smart to update appraisals every two to three years to keep coverage accurate. Fine art may require even more specialized protection—policies that include coverage for transportation, restoration, and worldwide damage if pieces are moved, lent, or carried during travel.

Keep these reminders in mind when preparing for Valentine’s Day or any high‑value gift:

Coverage doesn’t transfer when jewelry is gifted or inherited—the new owner must add the piece to their own policy.
For high‑value items, consider dedicated valuable items or personal articles policies offered by many major carriers.
Save receipts, appraisals, photos, serial numbers, and any identifying details. These documents help you establish ownership and value if you ever need to file a claim.

A romantic gift or one‑of‑a‑kind collectible deserves sentimental appreciation, but it also deserves financial protection. The right insurance ensures that if something goes wrong, your investment is safeguarded.

Buying a New Vehicle? Know Your Grace Period and Next Steps

Presidents’ Day is a prime time for car buyers. Fortunately, many insurers automatically extend your existing auto insurance to a newly purchased vehicle for a limited period—typically seven to 30 days, with most carriers landing somewhere between 14 and 30. During this grace period, the new vehicle generally receives the same coverage types and limits as another vehicle currently listed on your policy.

However, there are important details to be aware of:

You must already have an active auto insurance policy to benefit from a grace period. If you don’t currently have coverage, you’ll need a policy before driving your new car.
If you have multiple vehicles insured, your new car usually receives the broadest coverage among them—but only during the grace period.
Your temporary protection mirrors your existing coverage. If you only carry liability on your current car, your new vehicle will only have liability until you update your policy.

Before the grace period expires, make sure your new vehicle is officially added to your policy and that you’ve selected appropriate coverage. If the car is financed or leased, the lender will almost always require collision and comprehensive coverage—and may also require gap insurance to bridge the difference between the car’s value and your outstanding loan balance.

If you’re selling or trading in an older car as part of the purchase, remember to remove the old vehicle from your policy to avoid paying for unnecessary coverage.

Whenever you purchase a new vehicle, it’s a good idea to:

Notify your insurer before driving off the lot or as soon as possible within the grace period.
Review and adjust coverage limits and deductibles based on your new car’s value.
Update details such as drivers, garaging address, and usage (personal, business, or commuting).
Keep the bill of sale, registration, and insurance ID card accessible for everyday use or claims.

A quick check‑in with your agent can help you avoid gaps and ensure your new vehicle is protected from day one.

Recordkeeping Tips That Make Life Easier

No matter what type of purchase you’re protecting—jewelry, art, collectibles, or a vehicle—good documentation plays a major role in smooth claims processing and accurate coverage.

Follow these simple steps to stay organized:

Save receipts, serial numbers, appraisals, and any other relevant documentation.
Store digital copies of receipts, photos, appraisals, and VINs in secure cloud storage.
Photograph new items from multiple angles, including unique identifying marks.
Review your home and auto policies annually or after large purchases to ensure coverage still reflects what you own.
Ask your agent whether bundling or adding new coverage could unlock discounts elsewhere.

These small habits help create an organized paper and digital trail, making it easier for your insurer to respond quickly and fairly if something unexpected occurs.

Running Behind? You Still Have Options

If you bought something last month—or last year—and forgot to update your insurance, don’t panic. It’s incredibly common to get wrapped up in everyday life or the excitement of using something new.

The good news: it’s not too late. Your agent can review recent purchases, help you determine which items need specialized protection, and update your policies so your coverage better reflects what you own moving forward.

Final Thoughts: Celebrate the Season and Protect What You Love

February often brings joyful, meaningful purchases—from sparkling jewelry and unique artwork to brand‑new vehicles. Taking a few minutes to review your insurance before you gift or use these items is a simple way to protect both the emotional and financial investment.

If you’re planning something special this February—or if you’ve been meaning to insure recent purchases—I’m here to help you ensure each item is fully protected. A quick conversation can give you peace of mind, letting you enjoy your new treasures knowing you’ve taken the right steps to secure them.