Blake Honeycutt | Feb 09 2026 16:00

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

Why February Purchases Deserve Extra Protection

February may fly by, but it’s often one of the priciest months of the year. Between Valentine’s Day gifts, romantic surprises, and major Presidents’ Day sales—especially for cars—many people make significant purchases during this time. These items often carry both emotional meaning and substantial financial value, which is why it’s essential to make sure they’re properly insured from the start.

It’s easy to get swept up in the excitement of choosing a beautiful piece of jewelry, scoring a great deal on a car, or finally bringing home a piece of artwork you’ve admired for months. But before you slip on that ring or drive your new vehicle off the lot, there’s an important task you shouldn’t put off: ensuring that the right insurance coverage is in place.

This updated guide walks you through the key protections to consider for typical February purchases—from jewelry and fine art to brand-new vehicles—and highlights recordkeeping habits that can save major headaches if something unexpected happens.

Get Coverage in Place Before You Gift or Use an Item

For high-value items, waiting to “handle insurance later” can leave you exposed. Valuable items can be lost, stolen, or damaged at almost any point: on the drive home from the store, during a trip, or even as they’re being gifted. In some cases, the best protection strategy is to have coverage secured before the item leaves your hands.

February purchases often come with special considerations. A proposal-ready ring, a collector’s watch, a vehicle secured during a Presidents' Day sale, or a striking new piece of art—each requires thoughtful review. The goal is to match your insurance to the item’s value and risk so that there are no unpleasant surprises if you need to file a claim.

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

Many homeowners assume that their existing policy provides full coverage for all valuables. Unfortunately, most policies include sublimits for categories like jewelry, art, and collectibles. It’s common for coverage under a standard policy to cap claims for jewelry or fine art at around $1,000–$5,000—far below what many pieces are worth.

That’s where supplemental coverage becomes essential. Items such as engagement rings, collectibles, or artwork often require additional protection to ensure they’re insured at their full appraised value. Adding a scheduled personal property endorsement allows you to list specific items and ensure that, if something happens, the reimbursement reflects the true worth of the piece. These schedules may also cover incidents typically excluded from basic policies, including accidental damage or mysterious disappearance.

Most insurers require a recent appraisal to schedule an item, and values should be updated every two to three years to make sure your coverage stays accurate. For fine art, specialized policies may be needed—especially if pieces are transported, loaned for display, or moved between locations.

Helpful Reminders for Insuring Jewelry and Other Valuables

• Gifting jewelry? Remember, insurance doesn’t transfer. The new owner must add the item to their own policy.
• Higher-value pieces may qualify for separate “valuable items” or “personal articles” insurance from carriers such as Travelers, State Farm, or Liberty Mutual.
• Keep photos, receipts, appraisals, and serial numbers. These documents are indispensable when establishing ownership and value during a claim.

While the sentimental value of a gift is priceless, the financial value is something you can—and should—protect.

Buying a New Car? Understand Grace Periods and Next Steps

Presidents’ Day sales make February a big month for car buying. Fortunately, many insurers automatically extend your existing auto coverage to your new vehicle for a short grace period. Depending on the carrier, that window typically ranges from seven to 30 days, with most falling between 14 and 30 days. During this time, the new car temporarily takes on the same coverage and limits as another vehicle already listed on your policy.

Key Points to Know About Auto Insurance Grace Periods

• You must already have active auto insurance on another vehicle for the grace period to apply. If not, you’ll need to secure a policy before driving your new car.
• If multiple vehicles are insured, the new car typically inherits the broadest coverage among them—again, only during the grace period.
• Your temporary protection mirrors your existing policy. If your current car only carries liability coverage, your new car will too until you officially update your policy.

Before the grace period ends, be sure your new vehicle is fully added to your policy. If it’s financed or leased, your lender will likely require comprehensive and collision coverage—and may strongly recommend gap insurance to protect against the difference between your loan balance and the car’s actual cash value.

Don’t forget the flip side: if you’re trading in or selling an old car, make sure it’s removed from your policy so you’re not paying for unnecessary coverage.

To stay protected after buying a new car, make sure to:

• Contact your insurer right away—or at least within the grace period—to update your policy.
• Adjust coverage limits and deductibles to fit the value of your new car.
• Review details such as drivers, garaging address, and how the vehicle will be used.
• Keep digital and physical copies of your bill of sale, registration, and insurance ID card for records and claims support.

A quick conversation with your agent can ensure your newest set of wheels is protected from the first day you own it.

Smart Recordkeeping for All High-Value Purchases

No matter what you’re buying—jewelry, artwork, collectibles, or a vehicle—good recordkeeping is one of the best ways to safeguard yourself. Documentation helps you establish ownership, confirm value, and streamline the claims process if something happens.

Make recordkeeping a routine by:

• Saving receipts, appraisals, and serial numbers in both physical and digital formats.
• Storing digital copies—including photos—in secure cloud storage.
• Taking detailed photos of new items from multiple angles for easier identification.
• Reviewing your home and auto policies annually to make sure coverage reflects current possessions.
• Asking your agent about bundling or multi-policy discounts that may become available when adding new items.

These simple habits create a reliable paper trail that allows insurers to respond more quickly and accurately when claims arise.

Even If You’re Behind—You Still Have Options

If you purchased something weeks or even months ago and didn’t get around to updating your insurance, don’t worry—you’re not the only one. Life gets busy, and it’s common for people to delay this step.

The important thing is that it’s not too late. An agent can review any recent purchases, advise whether certain items should be scheduled, and help ensure your coverage aligns with what you own moving forward.

Final Thoughts: Celebrate February with Peace of Mind

February brings memorable moments—sparkling jewelry, new cars, meaningful art, or special collectibles. With a bit of advance planning, you can protect both the emotional significance and financial value behind these purchases.

If you’re adding something new to your life this February—or if you’ve been meaning to insure a recent purchase—I’m here to help make sure everything is covered correctly. A brief conversation can give you confidence that your new item is protected, so you can enjoy it without worry.