February may only offer a few short weeks, but it often packs in some of the year’s most meaningful—and costly—purchases. From sparkling Valentine’s Day surprises to big-ticket Presidents’ Day vehicle deals, many people find themselves bringing home items with both emotional and financial weight. With so much value concentrated into one month, taking steps to safeguard these purchases becomes especially important.

It’s easy to get wrapped up in the exciting parts of shopping: choosing the perfect piece of jewelry, securing a great price on a new car, or finally buying a piece of art you’ve been admiring. But before you put that necklace around someone’s neck, hang that painting on the wall, or drive a new car off the lot, there’s one essential step to take—making sure your insurance is ready to protect your new investment.

This rewritten blog walks through key considerations for keeping your Valentine’s Day and Presidents’ Day purchases secure, whether you’re buying jewelry, fine art, collectibles, or a brand-new vehicle. You’ll also find helpful reminders for maintaining records that can make claims and coverage updates much easier down the road.

Why You Should Review Coverage Before Using or Gifting an Item

For high-value purchases, waiting to address insurance “sometime later” can be a risky move. Items can be damaged, lost, or stolen at any point—from the car ride home, to travel, to the very moment a gift is being unwrapped. That’s why it’s wise to confirm coverage before a new item is given, worn, displayed, or used.

This is particularly important during February. Whether you’re planning a proposal with a new ring, surprising someone with a luxury watch, bringing home a vehicle purchased during a Presidents’ Day promotion, or investing in a unique piece of art, each item comes with specific coverage needs. The goal is to match your insurance to the value and risks associated with the purchase, so you aren’t caught off guard by gaps when you need protection the most.

Jewelry, Fine Art, and Collectibles: What Homeowners Insurance Doesn’t Fully Cover

Many people assume that their homeowners policy will automatically cover their valuables in full, but most standard policies have limits—especially for categories like jewelry and fine art. In many cases, a basic homeowners policy caps reimbursement for these items at a few thousand dollars, which may fall far short of what the item is truly worth.

This is where additional insurance comes in. Items like jewelry, artwork, or special collections often need added protection beyond what a standard policy provides. A scheduled personal property rider can be added to ensure that you’re covered for the full appraised value of each piece. These riders may also offer protection for risks not typically included in a homeowners policy, such as accidental breakage or mysterious disappearance.

Most insurers require a recent appraisal to schedule an item, and it’s a best practice to update those values every few years to make sure your coverage keeps pace. Fine art may require even more specialized coverage, including protection for transit, restoration, and worldwide damage—especially if pieces will be moved, loaned, or transported.

Keep these reminders in mind when insuring Valentine’s Day gifts and other high-value items:

• If jewelry is gifted or inherited, the coverage does not automatically follow the item. The recipient must add it to their own policy.
• For expensive items, insurance companies—including well-known carriers—often offer stand-alone “valuable items” or “personal articles” policies for broader protection.
• Maintain records such as receipts, photos, appraisals, and serial numbers. These are essential for establishing ownership and proving value if you ever need to file a claim.

Romantic presents and collectible items may hold irreplaceable emotional significance, but their financial value deserves proper protection too.

Buying a New Vehicle? Understand Grace Periods and Coverage Requirements

Presidents’ Day is a prime time for vehicle purchases, and many insurers automatically extend temporary coverage to newly purchased cars, trucks, or SUVs. This grace period typically lasts between seven and 30 days, depending on the carrier. During this time, the new vehicle generally receives the same coverage types and limits as another car already on your policy.

Here are a few details to keep in mind:

• The grace period usually applies only if you already have an active auto policy with at least one insured vehicle.
• If you have multiple vehicles insured, the newest vehicle often adopts the broadest level of coverage among them—but only during the grace period.
• The temporary coverage mirrors your existing policy. If your current vehicle only has liability coverage, your new car will typically only carry liability until you update your policy.

Before that temporary window closes, make sure the vehicle is formally added to your policy. If you’re leasing or financing, lenders almost always require comprehensive and collision coverage, and many strongly recommend gap insurance to help cover the difference between the loan balance and the vehicle’s current value.

If you’re trading in or selling an older vehicle as part of the purchase, remember to remove that car from your policy so you aren’t paying for coverage you no longer need.

Whenever you purchase a vehicle—whether during Presidents’ Day promotions or any other time—make it a habit to:

• Contact your insurer before driving home or shortly afterward to update your policy.
• Adjust coverage options and deductibles based on your new car’s value and your personal preferences.
• Update information such as drivers, garaging address, and usage (commuting, business, or personal).
• Keep copies of important documents like your bill of sale, registration, and insurance ID card.

Recordkeeping: A Simple Habit That Makes a Big Difference

No matter what type of item you purchase, strong recordkeeping is one of the most effective ways to protect your investment. Receipts, appraisals, and serial numbers help establish your policy and simplify the claims process if something goes wrong.

To stay organized, consider these best practices:

• Store digital copies of receipts, appraisals, photos, and VINs in a secure online location.
• Take clear photos of new items—front, back, and any unique details—to make identification easier.
• Review your home and auto policies annually or after major purchases to ensure coverage levels match your current needs.
• Ask your agent whether adding new valuables or a new vehicle could make you eligible for bundling or multi-policy discounts.

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

If you purchased an item weeks or even months ago and never got around to updating your insurance, you’re far from alone. Life gets busy, and it’s easy to overlook these steps once the excitement of a new purchase sets in.

The good news is that you can still update your coverage. An agent can help assess what you've bought, determine whether certain items should be scheduled, and bring your policies up to date so your protection aligns with your belongings going forward.

Final Thoughts: Enjoy the Season—And Protect What Matters

Valentine’s Day and Presidents’ Day often come with memorable purchases, whether they’re sentimental gifts, works of art, new cars, or special collectibles. Taking a little time to think about insurance before using or gifting these items helps safeguard both the emotional and financial investment they represent.

If you're planning to add something meaningful to your life this February—or if you’ve recently purchased something you haven’t insured yet—now is a great time to make sure everything is protected. A quick conversation with an agent can offer peace of mind, letting you enjoy your new items knowing you've taken the right steps to keep them safe.