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

February may be the shortest month of the year, but it often comes with some of the biggest purchases. Between Valentine’s Day gifts, romantic surprises, and major Presidents’ Day sales—especially on cars—many people bring home items that carry both emotional meaning and significant financial value. With that in mind, it’s essential to make sure those purchases are properly insured from the start.

It’s easy to get caught up in the excitement of the moment—whether you’re choosing the perfect piece of jewelry, scoring a deal on a new vehicle, or finally investing in a piece of art you’ve admired for years. But before you slip on that necklace, hang up that painting, or drive your new car home, there’s an important step to take: confirming that your insurance coverage will protect you if the unexpected happens.

This rewritten blog outlines the key insurance considerations for Valentine’s Day and Presidents’ Day purchases, from jewelry and artwork to brand-new cars. You’ll also find helpful recordkeeping tips that can make life easier if you ever need to file a claim.

Why It’s Important to Confirm Coverage Before Using a New Purchase

When you’re buying a high-value item, waiting to sort out the insurance later can be a costly misstep. Loss, damage, and theft can happen almost immediately—during the ride home, in transit, or even while you’re presenting the gift. That’s why it’s best to have protection in place before the item enters regular use or before you hand it off to a loved one.

February is a prime example of when this matters most. Jewelry purchased for a proposal, a collectible watch, a heavily discounted Presidents’ Day vehicle, or a newly acquired artwork each carries risks and unique insurance requirements. Your goal is to ensure your coverage reflects both the value and vulnerability of the item. That way, you’re not surprised by limitations or exclusions when you need support.

Jewelry, Artwork, and Collectibles: Why Homeowners Insurance May Not Be Enough

Many people assume their homeowners insurance fully protects valuable belongings. However, standard policies typically place strict caps—known as sublimits—on certain categories, especially jewelry and fine art. These limits often fall between $1,000 and $5,000, which is far below the replacement cost of many meaningful pieces.

This is where additional protection becomes important. High-value jewelry, fine art, and collectibles often benefit from scheduled personal property coverage, sometimes added through a rider or endorsement. This supplemental coverage helps ensure you receive the full appraised value if you ever need to file a claim.

Scheduling items can also offer protection for types of losses not included in basic homeowners coverage—such as accidental misplacement or unexplained disappearance. To add an item, insurers generally require a recent appraisal. For the most accurate protection, those appraisal values should be updated about every two to three years. Some artwork may even require specialized policies that include worldwide protection, transit coverage, and restoration support—especially if pieces are loaned to galleries or moved frequently.

Here are a few reminders to keep in mind as you shop for meaningful gifts this season:

• Insurance for jewelry doesn’t automatically transfer when a piece is gifted or inherited. The new owner must add it to their own policy.
• Higher-value items may be better served by stand-alone “valuable items” or “personal articles” policies, which many insurers offer.
• Keep documentation such as receipts, appraisals, photographs, and serial numbers. These details help establish ownership and speed up the claims process.

Even when an item holds emotional significance, the financial investment behind it deserves reliable protection.

New Cars and Presidents’ Day Deals: Understanding Grace Periods

Presidents’ Day is known for its competitive auto sales, and many people take advantage of the deals. Fortunately, most auto insurers automatically extend your existing coverage to a newly purchased vehicle for a limited time. These grace periods typically range from seven to 30 days, with many carriers offering 14 to 30 days of temporary protection. During this window, the new car usually adopts the broadest level of coverage on your current policy.

However, there are several details worth noting:

• The grace period only applies if you already have an active auto insurance policy. Without existing coverage, you’ll need to secure a policy before driving your new vehicle.
• If you insure multiple cars, the new one generally receives the highest coverage level among them—though only temporarily.
• If your current vehicle only has liability coverage, your new car will typically have liability-only protection during the grace period until you update the policy.

Before your grace period ends, make sure your new vehicle is formally added to your policy. If you’re financing or leasing, your lender will likely require both collision and comprehensive coverage. They may also recommend gap insurance to bridge the difference between your loan balance and the vehicle’s actual cash value.

Additionally, if you’re parting with an older car during the transaction, be sure it’s removed from your policy so you’re not paying for unnecessary coverage.

Whenever you bring home a new vehicle—holiday sale or not—remember to:

• Contact your insurer right away to update your auto policy.
• Adjust deductibles and coverage levels to match the new car’s value.
• Confirm details such as primary drivers, garaging address, and intended use (commuting, business, personal, etc.).
• Store essential documents like the bill of sale, registration, and insurance ID card to streamline future claims.

A quick check-in with your agent can make sure your new vehicle is fully protected from day one.

The Importance of Good Recordkeeping

No matter what you’re purchasing—jewelry, artwork, collectibles, or a vehicle—keeping solid records is one of the easiest ways to protect yourself. These details help establish coverage and can significantly simplify the claims process if issues arise.

To stay organized, consider the following habits:

• Store digital copies of receipts, appraisals, photos, and VINs in secure cloud storage.
• Photograph all new purchases, including distinguishing features or identifying marks.
• Review your homeowners and auto policies annually, especially after making big purchases.
• Ask your insurer whether adding new items qualifies you for bundling discounts, which could reduce overall premium costs.

Establishing a tidy recordkeeping system creates a clear trail that helps your insurer respond quickly and accurately during a claim.

If You’re Behind on Insurance, Don’t Stress

If you purchased something a while ago and still haven’t handled the insurance, you’re far from alone. Life gets busy, and intention doesn’t always equal follow-through. The good news is that you can still get coverage even if you’re late.

An insurance professional can walk through your recent purchases, recommend whether items should be scheduled, and help bring your policies up to date. It’s never too late to make sure your coverage matches your lifestyle and what you own.

Final Thoughts: Enjoy the Season and Safeguard Your Purchases

February offers opportunities for thoughtful gifts and exciting upgrades—sparkling jewelry, new cars, unique art, or special collectibles. Taking a moment to confirm the right insurance coverage ensures that both the sentimental and financial value of these items is protected.

If you’re planning new purchases this month or have items you’ve been meaning to insure, now is the perfect time to get things in order. A quick conversation with a trusted agent can give you peace of mind, so you can fully enjoy your new jewelry, artwork, or vehicle knowing it’s protected.