Protecting Your February Purchases: A Fresh Look at Valentine’s Day and Presidents’ Day Coverage

February may be the shortest month of the year, but it often comes with some of the biggest purchases. From sparkling Valentine’s Day jewelry to long-awaited Presidents’ Day car deals, many people bring home meaningful items during this time. These gifts and investments can hold both emotional and financial weight, which makes it especially important to ensure they’re protected from day one.

It’s easy to get swept up in the excitement of choosing a beautiful ring, landing a great price on a new vehicle, or finally buying a piece of artwork you’ve had your eye on. But before those purchases are gifted, displayed, or taken for a spin, there’s an essential step you shouldn’t skip: confirming that your insurance coverage truly reflects their value.

This post breaks down key protection strategies for jewelry, fine art, and collectible items, along with guidance for new vehicle coverage and recordkeeping habits that can save you stress in the future.

Don’t Wait to Confirm Coverage for High-Value Items

When you bring home a valuable item, insurance isn’t something to postpone. Loss, theft, or damage can happen surprisingly quickly—on the drive home, during travel, or even right as you’re giving the gift. For many high-ticket purchases, the safest approach is to put coverage in place before the item leaves your hands or becomes part of your daily routine.

February is filled with purchases that require this kind of foresight. A special ring for a proposal, a high-end watch, a Presidents’ Day vehicle purchase, or a newly acquired art piece all come with unique coverage requirements. Matching the right insurance to the item helps prevent unexpected financial gaps if something goes wrong.

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

Many people assume their homeowners policy fully covers valuable items, but most standard policies limit payouts for specific categories—especially jewelry and fine art. It’s common for these limits to fall between $1,000 and $5,000, which may be far below the value of your purchase.

For more complete protection, items like jewelry, artwork, or collectibles often need additional coverage. A scheduled personal property rider (also known as an endorsement) can insure items for their full appraisal value and may also cover situations not included in a standard policy, such as accidental breakage or mysterious disappearance.

Keep these points in mind when insuring high-value gifts:

• If jewelry is gifted or inherited, the coverage does not automatically follow the item. The new owner must add it to their own policy.
• For more expensive pieces, consider dedicated “valuable items” or “personal articles” insurance—offered by many major carriers—that provides expanded coverage.
• Store receipts, appraisals, serial numbers, and photos securely. They are needed for policy setup, and they’re vital if you ever need to file a claim.

Jewelry and collectibles may be priceless from an emotional standpoint, but financially, they can—and should—be thoroughly protected.

Buying a New Car? Understand Grace Periods and Next Steps

Presidents’ Day is one of the most popular times of the year for auto purchases. Fortunately, many insurance companies give you a built-in grace period when you buy a new vehicle. This period—often 14 to 30 days—extends your existing auto coverage temporarily, giving you time to update your policy.

Here’s what to know about these automatic extensions:

• The grace period applies only if you already have an active auto policy. If you haven’t had car insurance, you’ll need coverage before driving the new vehicle.
• If you insure multiple vehicles, the newest one generally inherits the broadest coverage among them during the grace window.
• Your temporary protection mirrors whatever you currently carry. If your existing car only has liability, your new car will only have liability until you update your policy.

Before the grace period runs out, make sure to officially add the new car to your policy. If you're financing or leasing, the lender will usually require comprehensive and collision coverage. They may also ask for gap insurance, which can help cover the difference between your loan amount and the vehicle’s actual cash value if it’s totaled or stolen.

If you’re selling or trading an older vehicle, remember to remove it from your policy so you’re not paying for coverage you no longer need.

Whenever you purchase a new vehicle, it’s wise to:

• Notify your insurance agent as soon as possible—ideally before you leave the dealership.
• Review and adjust coverage levels to reflect the value of your new ride.
• Update details like drivers, parking location, and usage.
• Keep paperwork such as the bill of sale and insurance card handy for verification or claims.

Smart Recordkeeping Makes a Huge Difference

Whether you’ve bought jewelry, a collectible, or a new car, maintaining organized records is one of the most effective steps you can take to protect your investment.

Consider these habits:

• Save digital and physical copies of receipts, appraisals, and identifying details like serial numbers or VINs.
• Photograph new items from multiple angles, including close-ups of distinctive markings.
• Review your homeowners and auto policies annually—or after making big purchases—to ensure your coverage reflects what you own.
• Ask your agent about potential discounts that may apply when you add new items or bundle policies.

These simple steps make claims smoother and help ensure you receive fair treatment if an incident occurs.

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

Maybe you bought something months ago and planned to update your insurance later. It happens more often than you’d think. The good news? It’s not too late. Your agent can review the items you’ve purchased, help determine whether they need to be scheduled individually, and update your overall coverage to reflect your current needs.

Enjoy the Season — and Protect What Matters

February brings memorable moments and meaningful purchases—from engagement rings and art pieces to brand-new vehicles. Taking a little time to review your insurance ensures those purchases are safeguarded financially, so you can enjoy them without worry.

If you’ve added something special to your life this month—or if you’ve been meaning to update your coverage—I’m here to help make sure everything is properly protected. A brief conversation can give you peace of mind as you enjoy your new jewelry, artwork, or vehicle with confidence.