Protecting Your Valentine’s and Presidents’ Day Purchases

Chelsea Santone

Feb 09 2026 16:00

February may be brief, but for many people, it’s packed with meaningful—and often pricey—purchases. Whether you’re planning a Valentine’s Day proposal, picking up a special piece of jewelry, or taking advantage of a Presidents’ Day auto sale, this month is full of items that carry both emotional and financial weight. That’s why it’s so important to make sure your new possessions are properly insured before they’re gifted, worn, displayed, or driven. It’s natural to focus on the excitement of the moment: choosing the right ring, scoring a great deal on a car, or finally adding a unique piece of art to your collection. But before those items become part of your everyday life, it’s worth pausing to confirm that you have the right coverage in place. The steps you take now can save you stress and financial loss later. Below is a breakdown of what to consider when it comes to insuring Valentine’s Day and Presidents’ Day purchases—including jewelry, fine art, collectibles, and vehicles—along with recordkeeping tips that can make a world of difference. Why Protecting Your Purchase Early Matters High-value items are at risk the moment they leave the store. Jewelry can be misplaced, damaged, or stolen. A new piece of art may be vulnerable during transport. Even a brand-new car can be involved in an accident on the drive home. These risks make it essential to confirm your coverage as soon as you acquire the item. February is a particularly common time for these purchases. Whether it’s an engagement ring, a high-end watch, a Presidents’ Day vehicle purchase, or a new piece of artwork, each carries its own insurance needs. The key is to ensure your coverage aligns with the item’s value and the potential risks—before an unexpected event turns into an expensive problem. Jewelry, Fine Art, and Collectibles: Why Standard Homeowners Insurance Isn’t Always Enough Many people assume that their homeowners policy automatically covers all valuables at full value. In reality, most policies include strict limits on categories like jewelry and fine art. A standard homeowners policy may only cover a few thousand dollars for these items—far below what many high-value pieces cost. That’s where additional protection becomes essential. Jewelry, fine art, and collectibles often need separate coverage to be fully insured. By adding a scheduled personal property endorsement (also known as an itemized rider), you can ensure that your insurer covers the full appraised value if something happens. In many cases, these riders also include protection that standard policies do not, such as coverage for accidental breakage or unexplained disappearance. Insurers typically require a recent appraisal when you schedule high-value items. It’s also a good idea to refresh those appraisals every two to three years to avoid gaps between your coverage and the current market value. Fine art collectors may even need a specialty policy that includes transit coverage, restoration protection, or global coverage—especially if pieces are loaned to galleries or moved between locations. A few key reminders for insuring gifts and valuables: • Coverage does not transfer automatically to a new owner. If you’re gifting jewelry, the recipient needs to add it to their policy. • For high-value items, consider separate “valuable items” or “personal articles” policies from insurers such as Travelers, State Farm, and Liberty Mutual. • Keep detailed records—photos, receipts, appraisals, serial numbers—to support both coverage requirements and future claims. A meaningful gift or collectible may hold deep sentimental value, but securing the right insurance helps protect its financial worth as well. Buying a New Vehicle? Know How Grace Periods Work Presidents’ Day is a major event in the auto industry, and many people drive away with new cars, trucks, or SUVs during February sales. Fortunately, most insurance companies automatically extend your current auto coverage to a new vehicle for a short time. This grace period typically lasts between seven and 30 days, with many carriers offering 14 to 30 days of temporary coverage. During this window, your new vehicle generally receives the same coverage as another vehicle already listed on your policy. But there are several important details to keep in mind: • A grace period only applies if you already have an active auto policy. If you don’t have insurance now, you’ll need a policy before driving your new car. • If you insure multiple cars, your new vehicle usually gets the broadest level of protection among them—but only temporarily. • The temporary coverage matches your current policy. For example, if your existing vehicle only carries liability, your new car will only have liability until you update your policy. Before that grace period ends, make sure your new vehicle is fully added to your policy. If the car is financed or leased, the lender will require collision and comprehensive coverage. Many also suggest (or require) gap insurance, which covers the difference between your auto loan balance and the vehicle’s actual cash value in the event of a total loss. And don’t forget to update your policy when trading in an older vehicle—you don’t want to keep paying for coverage you no longer need. Whenever you get a new car, make it a habit to: • Notify your insurer before you leave the dealership or shortly after. • Adjust limits and deductibles based on the car’s value and your preferences. • Update vehicle usage details, garaging address, and drivers. • Keep purchase documents and your insurance card somewhere accessible. A quick conversation with your agent ensures your new ride is protected from day one. Recordkeeping Tips That Make a Big Difference Whether you’re insuring jewelry, fine art, collectibles, or a vehicle, organized documentation can streamline everything from policy setup to claims processing. Keep copies of receipts, appraisals, photos, and serial numbers. Storing these digitally in a secure cloud account can make them easy to access when needed. For new purchases, take multiple photos—front, back, and any identifying markings. This helps with identification and speeds up claims if something goes wrong. It’s also wise to review your home and auto insurance annually. Major purchases can change your coverage needs, and adjusting your policies helps you stay properly protected. In some cases, adding valuable items or another vehicle might even qualify you for bundling discounts. If You’re Behind on Insuring Something, Don’t Stress If you bought something last month—or even last year—and never got around to updating your insurance, you’re not alone. Life moves fast, and it’s easy to forget this step. The good news: it’s not too late. An insurance agent can still review your items, suggest coverage options, and help you get your policies aligned with what you own today. Final Thoughts: Enjoy the Season, Protect Your Investments Valentine’s Day and Presidents’ Day often bring memorable purchases—sparkling jewelry, new vehicles, unique art, and meaningful collectibles. Taking just a bit of time to secure the right insurance ensures those items are protected, both emotionally and financially. If you’re planning a new purchase this February—or if you have something recent that still needs to be insured—we’re here to help you make sure it’s properly covered. With the right protection in place, you can enjoy your new gifts and purchases knowing you’ve taken the proper steps to safeguard them.