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

February’s Big Purchases Deserve Big Protection

Even though February is the shortest month of the year, it’s often one of the most expensive. Between Valentine’s Day gifts, surprise romantic gestures, and major Presidents’ Day sales—especially on cars—many people make meaningful purchases that carry both sentimental and financial weight. Because of that, it’s essential to make sure these items are properly insured from the very beginning.

It’s easy to get swept up in the excitement of choosing the perfect piece of jewelry, landing a great deal on a vehicle, or finally bringing home a piece of art you’ve admired for ages. But before you hand over a gift, take it out for its first drive, or hang it in your home, there’s a key step to check off your list: confirming that your insurance provides the protection you need if the unexpected occurs.

This rewritten guide walks through the most important insurance considerations for February purchases—from jewelry and art to newly purchased cars—and offers a few simple recordkeeping habits that can protect you long after the holiday buzz fades.

Why It’s Smart to Verify Coverage Before Using or Gifting an Item

When it comes to high‑value purchases, insurance shouldn’t be an afterthought. Items can be lost, damaged, or stolen almost immediately—sometimes even on the way home from the store or during the process of giving the gift. Taking steps to secure coverage ahead of time ensures you’re protected from day one.

February tends to amplify these risks. Whether it’s an engagement ring, a luxury watch, artwork bought at a gallery, or a car purchased during a Presidents’ Day sale, each has its own insurance needs. The goal is to match your policy to the value and risk of the item so you’re not surprised by a denied or insufficient claim when you need help the most.

Jewelry, Art, and Collectibles: When Homeowners Coverage Isn’t Enough

Many people assume their homeowners insurance fully protects valuable personal items. Unfortunately, standard policies often include strict limits—especially for jewelry, fine art, and collectibles. These caps typically fall between $1,000 and $5,000 for certain categories, which may not scratch the surface of what your piece is worth.

To ensure items are adequately covered, you may need to add separate protection. Scheduling jewelry, artwork, or collectibles through a personal property rider (also called an endorsement) allows you to insure items for their full appraised value. These riders often include broader protections than standard homeowners policies, sometimes covering accidental damage or the mysterious disappearance of an item.

Most insurers require a recent appraisal—usually within the last couple of years—to schedule valuables correctly. Fine art, in particular, may require a specialized policy that includes protection during transportation, restoration, or worldwide travel. This matters if you ever move, ship a piece, or loan artwork to a museum or gallery.

Here are a few helpful tips to keep in mind for Valentine’s Day and other special gifts:

• Coverage doesn’t automatically transfer when gifting or inheriting jewelry. The new owner must add the item to their own policy.
• Higher‑value pieces may benefit from dedicated “valuable items” or “personal articles” coverage offered by carriers like State Farm, Travelers, Liberty Mutual, and others.
• Hold onto receipts, photos, serial numbers, and appraisals—they’re essential not only for securing coverage but also for validating ownership and value during a claim.

While meaningful gifts like jewelry or collectibles hold sentimental significance, their financial value also deserves thoughtful protection.

Buying a New Car? Understand Grace Periods and Next Steps

Presidents’ Day is a popular time for car shopping thanks to big seasonal discounts. The good news is that many insurers automatically extend your existing auto coverage to a newly purchased vehicle for a short window. This grace period typically spans 7 to 30 days depending on your carrier, with many offering 14 to 30 days.

This temporary coverage usually mirrors what you already have. If you have multiple cars insured, the new vehicle often inherits the broadest protection among them—but only until the grace period ends. After that, you must officially add the car to your policy.

Keep these nuances in mind:

• You must already have active auto insurance for a grace period to apply. If you don’t, you’ll need a policy before driving your new vehicle.
• If your existing coverage is liability‑only, your new car will typically carry liability‑only during the grace period unless you update it.
• Financed or leased vehicles often require comprehensive and collision, plus lenders may recommend (or require) gap coverage to protect you if the car’s value drops below your loan balance.

If you’re trading in an older car, remember to remove it from your policy so you’re not paying for unneeded coverage.

Whenever you bring home a new vehicle, try to:

• Notify your insurer before leaving the dealership—or at least within the grace period.
• Update limits and deductibles to reflect the value of your new car.
• Confirm vehicle use details, including garaging address, daily mileage, and whether it will be used for business or commuting.
• Keep your purchase paperwork—such as the bill of sale and registration—in an easy‑to‑access spot for claims or general reference.

Recordkeeping Tips That Make a Big Difference

Whether you’re insuring jewelry, fine art, collectibles, or a new vehicle, keeping good records is one of the simplest yet most effective ways to protect yourself.

Maintain organized records of receipts, appraisals, identifying numbers, and photos. These documents are often required to validate coverage and can make claims far easier to process. Consider the following habits:

• Store digital versions of important documents—such as appraisals, receipts, photos, and VINs—in secure cloud storage.
• Take clear pictures of new purchases from multiple angles, including distinguishing details.
• Review your insurance policies annually or after any major purchase to ensure your coverage aligns with your belongings.
• Ask your agent whether adding valuables or vehicles may qualify you for bundling or loyalty discounts.

These small steps create a clear documentation trail that helps your insurer support you quickly and accurately when needed.

What If You Didn’t Cover Something Right Away?

Don’t worry—many people don’t handle insurance immediately after buying something new. Life moves fast, and excitement sometimes takes priority. Fortunately, it’s not too late to get the protection you need.

Your agent can review recent purchases, advise whether items should be scheduled, and update your policies so your coverage aligns with your possessions going forward.

Final Thoughts: Protect What Matters This February

From memorable Valentine’s Day gifts to big Presidents’ Day purchases, February often brings items that carry emotional and financial meaning. Thinking ahead about insurance helps ensure these belongings are thoroughly protected—so you can enjoy them without worry.

If you’re planning new purchases this month or have items you’ve been meaning to insure, now is a great time to reach out. A quick conversation can help ensure your jewelry, artwork, or new vehicle is properly covered, giving you peace of mind long after the winter holidays have passed.