Safeguarding Your Valentine’s Day and Presidents’ Day Purchases

February may fly by, but it’s often one of the most expensive months of the year. From sparkling Valentine’s Day jewelry to surprise gifts and major Presidents’ Day car sales, many people make meaningful purchases during this stretch of winter. These items usually carry emotional and financial weight—so protecting them properly is essential.

It’s easy to enjoy the exciting parts of shopping: finding the perfect ring, treating yourself to a long‑awaited piece of art, or driving home in a new car. But before you slip on the jewelry, hang the painting, or hit the road in your new vehicle, there’s one important step that can’t wait: making sure your insurance provides the right protection from day one.

Below, we’ll cover the key types of coverage to keep in mind for Valentine’s Day and Presidents’ Day purchases—whether you’re buying jewelry, fine art, collectibles, or a brand‑new vehicle—along with some recordkeeping habits that can make life much easier if you ever need to file a claim.

Why Insurance Should Come Before Gifting or Using Your Purchase

With high‑value items, waiting to “figure out the insurance later” can lead to costly gaps. Loss, theft, or damage can happen instantly—during travel, while wrapping a gift, or even before you make it home from the store. That’s why getting coverage in place before you give or use the item is such an important best practice.

February’s popular purchases make this even more relevant. A proposal ring, a luxury watch, a Presidents’ Day auto deal, or a newly bought painting each requires the right level of protection. Matching your coverage to the item’s value ensures you’re not left handling a major loss on your own.

Jewelry, Artwork, and Collectibles: More Than Standard Homeowners Coverage

Many people assume their homeowners policy automatically covers all valuables at full value. In reality, most standard policies limit payouts on certain categories—especially jewelry and fine art. It’s common for coverage under a basic policy to be capped at $1,000 to $5,000, which is typically far below the worth of meaningful pieces.

This is where additional coverage becomes essential. Jewelry, artwork, and collectibles often need their own protection beyond a standard home policy. Adding a scheduled personal property rider—sometimes called an endorsement—helps ensure you’re reimbursed for the full appraised value if something happens. These riders can even cover situations excluded by a traditional policy, such as accidental breakage or mysterious disappearance.

To schedule an item, insurers generally require a current appraisal. These values should be updated every couple of years so your coverage stays accurate. Fine art, in particular, may benefit from a specialized policy that provides protection for transit, restoration, and global coverage—especially if pieces are moved, loaned, or transported frequently.

Here are a few reminders for jewelry and other high‑value gifts:

• Gifting jewelry doesn’t automatically transfer insurance. The recipient must add the item to their own policy.
• For very expensive items, look into specialized “valuable items” or “personal articles” coverage offered by major carriers.
• Keep documentation such as receipts, photos, serial numbers, and appraisal reports. These records are critical if you need to prove ownership or file a claim.

A meaningful gift may be priceless emotionally, but protecting its financial value is a smart and simple step.

Buying a New Vehicle: Understanding Grace Periods and Next Steps

Presidents’ Day is famous for auto sales, and many shoppers drive away with a new car, truck, or SUV. The good news is that most insurers automatically extend your existing auto coverage to a newly purchased vehicle for a short period—often between seven and 30 days, with many companies falling closer to 14–30 days.

During this temporary window, the new vehicle typically receives the same coverage types and limits as your most protected car currently on the policy. However, there are a few key points to understand:

• The grace period only applies if you already have an active auto policy. Without insurance in place, you must secure coverage before taking the car home.
• If you insure multiple vehicles, the new one generally receives the broadest level of existing protection—but only until you update your policy.
• The temporary coverage reflects what you already have. For example, if your current car only carries liability, your new vehicle will temporarily have liability only.

Before the grace period ends, you’ll want to officially add the vehicle to your policy and make sure your coverage reflects its value. Lenders for financed or leased cars usually require both comprehensive and collision coverage, and may also require or recommend gap insurance to cover the difference between the loan amount and the car’s market value.

If you’re trading in or selling your old car, remember to remove it from your policy so you’re not paying for unnecessary coverage.

Whenever you bring home a new vehicle, make it a habit to:

• Contact your insurer before leaving the dealership—or as early as possible—to update your policy.
• Adjust limits and deductibles to match the new car’s value and your comfort level.
• Update usage details, such as commuting distance, drivers, and garaging location.
• Store your bill of sale, registration, and insurance ID card somewhere accessible.

One quick call or email to your agent can ensure your new ride is protected right from day one.

Recordkeeping: Small Habits That Make a Big Difference

Whether you’re insuring a new piece of jewelry, artwork, or a vehicle, keeping organized records is one of the most effective ways to streamline the insurance process.

Maintain receipts, appraisals, serial numbers, and other documentation in a secure place. These details help establish coverage and make claims smoother. To take recordkeeping even further:

• Save digital versions of receipts, appraisals, photos, and VINs in secure cloud storage.
• Photograph new items from multiple angles and capture unique markings for identification.
• Review your policies annually—or after significant purchases—to make sure coverage limits remain accurate.
• Ask your agent whether new valuables or vehicles make you eligible for bundling or multi‑policy discounts.

Good documentation creates a clear record that can help your insurer process claims quickly and fairly.

If You Haven’t Gotten Around to It Yet—There’s Still Time

If you purchased something weeks or even months ago and haven’t addressed the insurance yet, you’re not alone. Life gets busy, and it’s easy to put this task on the back burner.

The important thing is that you can still get properly protected. An agent can review your recent purchases, recommend whether scheduling makes sense, and update your policies so your coverage reflects what you own today.

Final Thoughts: Enjoy February—And Protect What Matters Most

Whether it’s a sparkling gift, a new vehicle, or a unique piece of art, February brings purchases that can make a lasting impression. Taking a few minutes to confirm your insurance coverage protects both the sentimental and financial value of those items.

If you’re planning a purchase this month—or if you have something new you haven’t insured yet—I’m here to help you make sure it’s fully protected. A quick conversation can give you peace of mind, so you can enjoy your new jewelry, artwork, or vehicle knowing you’ve taken steps to safeguard it.