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

February might be the shortest month of the year, but it often packs a financial punch. Between Valentine’s Day surprises, meaningful jewelry, and major Presidents’ Day car deals, many households make significant purchases during these winter weeks. These items often carry deep emotional value — and a sizable price tag — which makes proper protection especially important.

Shopping for something special is always exciting. Whether you’re picking out an engagement ring, bringing home a long‑admired piece of art, or driving away in a brand‑new car, it’s easy to focus on the fun part. But before you gift it, wear it, display it, or put it in the garage, there’s one important step you shouldn’t skip: making sure your insurance is prepared to protect it.

This guide walks through the key types of coverage worth reviewing for February purchases, from fine jewelry to new vehicles, along with practical recordkeeping tips that make handling claims and updates far easier down the road.

Why Insurance Matters Before You Gift or Use Something New

When it comes to high‑value purchases, waiting until “later” to confirm coverage can be risky. Items can be lost, damaged, or stolen at any point — even on the day you buy them or while they’re being given as a gift. The safest approach is to make sure protection is in place before you hand over the present or begin using the item yourself.

This is especially relevant in February, when many purchases are emotionally significant or expensive. A Valentine’s Day necklace, a collectors’ watch, a Presidents’ Day auto purchase, or a newly acquired work of art each comes with its own risks and coverage needs. Your goal is to ensure that your insurance matches the value and exposure of the item so that you’re not surprised by gaps when you need help most.

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

Many people assume that their homeowners insurance automatically covers valuables at full replacement value. In reality, most standard policies have category limits — particularly for jewelry, art, and collectibles. These limits often fall between $1,000 and $5,000 for claims, which can leave a big gap if your piece is worth significantly more.

That’s where added protection comes into play. Jewelry, fine art, and collectible items often need supplemental coverage beyond a standard homeowners policy. A scheduled personal property endorsement allows you to insure items individually for their appraised value. These endorsements may even cover risks that a basic policy does not, such as accidental damage or mysterious disappearance.

To schedule an item, insurers typically require a recent appraisal. Those values should be updated every few years to keep coverage accurate. High‑end artwork may also need a specialty policy that addresses transportation, restoration, and coverage worldwide — especially if your collection moves, is loaned out, or travels with you.

Here are a few reminders for jewelry and other valuables purchased or gifted in February:

• If jewelry is inherited or given as a gift, insurance doesn’t automatically follow the item. The new owner must add it to their own policy.
• For costly pieces, consider standalone “valuable items” or “personal articles” coverage, available from major insurers like Travelers, State Farm, Liberty Mutual, and others.
• Keep receipts, photos, serial numbers, and appraisals in a safe place. These documents help establish ownership and value if you ever need to file a claim.

While sentimental value can’t be replaced, the financial investment can — and should — be protected with the right type of insurance.

New Vehicle Purchases: Know Your Grace Period and Next Steps

Presidents’ Day is an especially popular time for buying cars, trucks, and SUVs. Fortunately, many insurers offer an automatic grace period that temporarily extends your existing auto coverage to a newly purchased vehicle. These grace periods typically last anywhere from seven to 30 days, though many insurers fall closer to the two‑to‑four‑week range.

During the grace window, your new vehicle usually adopts the same coverage types and limits as another car already on your policy. Still, there are important details to understand:

• If you don’t have current auto insurance on another vehicle, you generally need to secure a policy before driving your new car.
• If you have multiple cars insured, the newest vehicle typically receives the broadest coverage among them — but only until the grace period ends.
• This temporary protection mirrors your existing coverage. If your current car only carries liability, your new vehicle will only have liability unless you update your policy.

Before the grace period expires, you’ll need to formally add the new vehicle to your auto policy. If you’re leasing or financing, your lender will likely require physical damage coverage (comprehensive and collision). They may also require — or strongly recommend — gap insurance to protect you from owing more on the loan than the vehicle’s actual cash value in the event of a total loss.

And don’t forget the vehicle you’re replacing. If you’re selling or trading in an older car, make sure it’s removed from your policy so you aren’t paying for insurance you no longer need.

When you buy a new vehicle, it’s wise to:

• Contact your insurer before leaving the dealership or soon afterward to update your policy.
• Adjust your limits and deductibles to match the new car’s value and your comfort level.
• Update driver details, usage information, and garaging address.
• Keep digital and physical copies of your bill of sale, registration, and insurance ID card for easy access.

A quick call or email to your agent ensures that your new vehicle is protected from day one.

Recordkeeping Tips That Make a Big Difference

Whether you’re dealing with jewelry, art, collectibles, or a new vehicle, strong recordkeeping habits can save you time, stress, and money.

Keep detailed documentation of receipts, appraisals, and serial numbers. These are essential for establishing coverage and validating a claim. To stay organized, consider these habits:

• Store digital copies of receipts, photos, appraisals, and VINs in secure cloud storage.
• Take clear photos of new purchases — including close‑ups and distinctive markings — to simplify claim processing.
• Review your home and auto policies annually or after major purchases to confirm your coverage keeps pace with what you own.
• Ask your agent about possible bundling or multi‑policy discounts after adding new items or vehicles.

These simple steps help create a clear digital and physical record that supports you if something unexpected happens.

What If You’re Handling Coverage a Little Late?

If you made a purchase last month or even last year and still haven’t handled the insurance, you’re far from the only one. Busy schedules and excitement often push these tasks aside.

The good news: it’s almost never too late to get things aligned. An agent can review what you’ve purchased, recommend whether any items should be scheduled, and help adjust your policies so future coverage matches your needs.

Final Thoughts: Enjoy February — and Protect What Matters Most

February brings memorable moments — from sparkling Valentine’s Day gifts to great Presidents’ Day vehicle deals. Taking a little time to review your insurance before you start enjoying these purchases is an easy way to safeguard both the emotional and financial value they carry.

If you’re planning something new this February, or if you’ve been meaning to review recent purchases, now is a great time to make sure everything is properly covered. A short conversation with your agent can give you real peace of mind — so you can enjoy your new jewelry, artwork, or vehicle knowing you’ve taken the right steps to protect it.