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

February may be the shortest month of the year, but it often comes with some of the biggest splurges. From romantic Valentine’s Day jewelry to major Presidents’ Day auto sales, it’s a time when many people bring home meaningful, high-value items. These purchases usually carry sentimental weight, financial significance, or both—making thoughtful protection a must.

It’s easy to get caught up in the excitement of choosing the perfect gift or finding a deal you’ve been waiting for. But before you slip the new bracelet into a gift box, mount artwork on your wall, or take your new car out for a spin, there’s a crucial step you shouldn’t overlook: making sure your insurance is ready to cover the unexpected.

This refreshed guide walks through the types of coverage worth considering for popular February purchases—jewelry, art, collectibles, and new cars—along with smart recordkeeping habits that make everything easier down the road.

Why Insurance Should Come First

When you’re investing in something valuable, waiting until “later” to think about insurance can place you at risk. Items can be lost, stolen, or damaged the moment they leave the store, during a trip, or even while they’re being unwrapped. For many high-dollar or high-sentimental-value pieces, it’s wise to secure insurance before they change hands or enter everyday use.

February is full of situations where timing really matters. An engagement ring waiting for a proposal, a rare watch, a Presidents’ Day car purchase, or a new piece of artwork each comes with its own coverage considerations. Your goal is simple: align your insurance with the item’s value and risk so you’re not caught off guard by a coverage gap at the worst possible moment.

Jewelry, Fine Art, and Collectibles: Looking Beyond Standard Homeowners Insurance

A common misconception is that homeowners insurance automatically covers all valuables at their full amount. In reality, most policies limit what they’ll pay for jewelry, fine art, and similar items. These caps—sometimes as low as $1,000 to $5,000—may fall far short of what your piece is worth.

That’s where extra protection comes in. Many high-value items need coverage beyond the standard policy. A scheduled personal property rider (also known as an endorsement) can ensure you’re covered up to the item’s appraised value. These riders also often protect against situations not included in a basic policy, like accidental damage or mysterious disappearance.

Scheduling an item typically requires a recent appraisal, and those values should be updated every few years to stay current. Depending on the type of artwork or collectible, you may even need a specialty policy that includes transit coverage, worldwide protection, or restoration-related benefits—essential for pieces that are moved, displayed publicly, or frequently transported.

Here are a few reminders as you prepare for Valentine’s Day gifts or other major purchases:

• Certain items don’t transfer insurance automatically when gifted or inherited. The new owner must add them to their own policy.
• For especially valuable pieces, consider policies designed specifically for high-dollar items, often available from carriers such as Travelers, State Farm, or Liberty Mutual.
• Keep documentation—receipts, appraisals, photos, and serial numbers. These are essential for scheduling items and critical for claim verification.

A meaningful romantic gift or one-of-a-kind collectible may be priceless emotionally, but it still deserves financial protection through the right coverage.

New Cars: Understanding Grace Periods and Coverage Updates

Presidents’ Day is known for car-buying deals, and fortunately, most insurers provide an automatic grace period for newly purchased vehicles. This temporary coverage generally lasts somewhere between seven and 30 days, with 14–30 days being typical for many carriers. During that window, your new car usually takes on the broadest coverage of the vehicles already on your policy.

A few points are essential to keep in mind:

• The grace period only applies if you already have active auto coverage. If you currently don’t have insurance, you must secure a policy before driving the car.
• If you insure multiple vehicles, the new one often inherits the highest level of coverage you already carry—at least until the grace period ends.
• The temporary coverage only mirrors your existing protection. If your current car only has liability coverage, the new one will too until you update your policy.

Before that grace window closes, make sure your insurer officially adds the new vehicle to your policy. If you’re financing or leasing, your lender will almost certainly require collision and comprehensive coverage—and may also recommend or require gap insurance, which covers the difference between the loan balance and the car’s actual cash value.

And if you’re trading in or selling a car, don’t forget to remove it from your policy once the transaction is complete so you’re not paying for unnecessary coverage.

When you bring home a new vehicle—whether in February or anytime—make it routine to:

• Reach out to your insurer before leaving the dealership or shortly afterward.
• Review your coverage limits and deductibles to ensure they fit the value of your new car.
• Update driver information, your garaging address, and usage details such as commuting distance.
• Keep copies of the bill of sale, registration, and insurance documents handy for claims and everyday use.

A quick update with your agent can help ensure your new purchase is protected from the moment you drive it off the lot.

Organizing Receipts, Appraisals, and Documentation

Whether you’re insuring jewelry, art, collectibles, or a new vehicle, organized recordkeeping can be one of your strongest tools. These documents help you establish ownership, streamline the claim process, and verify values.

Consider taking your documentation a step further by adopting the following habits:

• Store digital copies of appraisals, receipts, photographs, and VINs in secure cloud storage.
• Photograph new items from multiple angles—including distinctive marks—to simplify identification.
• Review your home and auto policies annually or after any significant purchase to ensure your coverage keeps pace with what you own.
• Ask your agent about bundling discounts—adding new items or vehicles might unlock savings.

Small organizational steps today can prevent big headaches later, giving you confidence that your insurer has everything needed to assist you quickly and fairly.

If You’re Running Behind, You Still Have Options

If you bought something a while ago and never got around to updating your insurance, you’re far from alone. Life gets busy, and new purchases are often enjoyed right away while the “to‑do” list lingers in the background.

The good news: you can still get coverage in place. An insurance professional can walk through your recent purchases, help determine whether anything should be scheduled, and adjust your policies so your protection matches your belongings going forward.

Final Thoughts: Enjoy the Month—And Safeguard What You Treasure

February is a month of meaningful purchases—from sparkling Valentine’s Day gifts to Presidents’ Day vehicle upgrades and unique art or collectibles that reflect your personality. Spending a little time upfront to confirm your coverage is a smart way to protect both the emotional significance and the financial investment behind those items.

If you’re planning a special purchase this season—or if you’ve recently added something new—now is the perfect time to make sure it’s fully protected. A quick conversation with your insurance professional can make all the difference, giving you peace of mind as you enjoy your new jewelry, artwork, or car with confidence.