Protecting Your Valentine’s Day and Presidents’ Day Purchases: What to Know Before You Buy

February might fly by, but it has a way of becoming one of the priciest months of the year. Between Valentine’s Day sparkle, heartfelt surprises, and major Presidents’ Day sales—especially on cars—many people make meaningful purchases during this winter stretch. These items often hold sentimental and financial weight, which makes it essential to ensure they’re properly protected.

It’s easy to get swept up in the excitement of buying a beautiful piece of jewelry, scoring a great deal on a new ride, or finally bringing home artwork you’ve admired for months. But before that special gift is unwrapped or the keys to a new car leave the dealership, there’s an important step many overlook: confirming that your insurance coverage is ready to safeguard your investment.

This article explores the key protections to consider when buying Valentine’s Day or Presidents’ Day gifts—from fine jewelry and collectibles to brand‑new vehicles—along with helpful recordkeeping habits that can make life easier down the road.

Why You Should Confirm Coverage Before Using or Gifting an Item

When it comes to high‑value purchases, “I’ll handle the insurance later” can be a risky mindset. Expensive items can be lost, damaged, or stolen right away—during the drive home, while traveling, or even during the gifting moment itself. For many valuables, the smartest approach is to secure proper coverage before the item is worn, displayed, or driven.

This becomes especially relevant in February. Whether you’re planning a proposal with a new ring, surprising someone with a luxury watch, taking advantage of a Presidents’ Day car sale, or purchasing a new piece of art, each item comes with unique insurance needs. The key is to make sure your policy matches the value and risk of what you’ve purchased—so you’re not caught off guard by gaps in coverage when it matters most.

Jewelry, Fine Art, and Collectibles: Understanding What Your Homeowners Policy Doesn’t Cover

Many people assume their homeowners insurance automatically covers all valuables at their full worth. In reality, most standard homeowners policies include limits—especially for jewelry, artwork, and certain collectibles. Typical policy caps for these items might range between $1,000 and $5,000, which often falls well short of the item’s actual value.

That’s where additional coverage becomes important. High‑value jewelry, fine art, and specialty collectibles may require separate protection beyond your base homeowners policy. A scheduled personal property endorsement (sometimes referred to as a rider) can ensure your items are covered for their full appraised value. These endorsements can also cover situations a basic policy might not, such as accidental breakage or mysterious disappearance.

To schedule an item, insurers usually require a recent appraisal—and those appraisals should be refreshed every two to three years to keep values up‑to‑date. Some types of artwork may even need their own specialty policy, which can include protection during transportation, restoration, and international travel. This is especially valuable if you move frequently, lend pieces to galleries, or transport them for exhibitions.

Here are some helpful reminders when gifting or acquiring high‑value pieces:

• If jewelry is gifted or passed down, insurance coverage does not automatically follow the item. The new owner must add it to their own policy.
• For very high‑value items, consider standalone valuable items or personal articles policies, offered by many major insurance carriers.
• Keep documentation—receipts, appraisals, serial numbers, and photos. These are crucial both for establishing coverage and for supporting any future claims.

Romantic gifts and rare collectibles can hold deep emotional meaning—but their financial worth also deserves protection through the right insurance strategy.

New Vehicles: Grace Periods and What to Do Next

Presidents’ Day is one of the most popular times of the year to purchase a new car, truck, or SUV. Fortunately, many insurers offer automatic temporary coverage for newly acquired vehicles. This grace period typically ranges from seven to 30 days, with two weeks to a month being the most common.

During this time, the new vehicle usually receives the same coverage and limits as another car already on your policy. But there are some important details to understand:

• The grace period generally applies only if you already have active auto insurance. If you don’t currently have a policy, you’ll need one before driving your new car.
• If you insure multiple vehicles, the new one typically receives the broadest coverage among them—but only through the grace period.
• Your temporary coverage matches what you currently carry. For example, if your current vehicle only has liability coverage, your new car will also only have liability until you update the policy.

Before that grace window ends, make sure your new vehicle is officially added to your policy. If it’s financed or leased, your lender will almost certainly require comprehensive and collision coverage—and may also recommend or require gap insurance to bridge the difference between the car’s value and the loan balance.

If you’re replacing an older car, remember to remove the old vehicle from your policy so you’re not paying for unnecessary coverage.

When you bring home a new vehicle—whether on Presidents’ Day or any other time—make a habit of:

• Contacting your insurer before driving off the lot or shortly afterward to update your policy.
• Adjusting your coverage and deductibles to suit the new vehicle’s value and your comfort level.
• Updating details such as garaging address, drivers, and whether the car will be used personally, for business, or for commuting.
• Keeping a copy of your bill of sale, registration, and insurance ID card handy for verification and claims needs.

A quick call to your agent can ensure your new purchase is fully protected from day one.

Recordkeeping Tips That Make a Big Difference

No matter what type of item you’re protecting—jewelry, artwork, collectibles, or a new vehicle—good recordkeeping can save you time and stress.

Keep receipts, appraisals, and identifying details like serial numbers. These documents not only help you establish coverage but also support your claim if something goes wrong. To stay organized, consider:

• Backing up digital copies of receipts, appraisals, photos, and VINs in secure cloud storage.
• Photographing your new items from multiple angles, especially any unique features.
• Reviewing your home and auto insurance annually—or whenever you make a major purchase—to ensure your coverage still fits your needs.
• Asking your agent whether adding new valuables qualifies you for bundling or multi‑policy discounts.

These simple habits create a clear paper and digital trail, helping insurers process claims quickly and accurately.

It’s Okay If You’re Running Behind

If you bought something last month—or even last year—and meant to “handle the insurance later,” you’re not alone. Life gets busy, and it’s easy to forget.

The good news is that it’s never too late to get assistance. An insurance professional can help review your recent purchases, advise on whether certain items should be scheduled, and update your coverage so that it aligns with your lifestyle going forward.

Final Thoughts: Enjoy the Season and Protect What Matters

Some of the most memorable purchases of the year happen in February—from sparkling jewelry to new vehicles, unique art, and meaningful collectibles. Taking a little time to make sure your insurance is ready can protect both the emotional and financial investment behind those gifts.

If you’re planning a special purchase—or if you’ve recently added something new and want to make sure it’s properly insured—I’m here to help. A quick conversation can give you peace of mind, allowing you to enjoy your new jewelry, artwork, or car knowing you’ve taken the right steps to safeguard it.