Cynthia Bravo-White | Feb 09 2026 16:00
February may be brief, but it often becomes a big spending month. Between Valentine’s Day gifts and major Presidents’ Day sales, many people make meaningful purchases during the winter season. Whether you’re buying jewelry, art, or a brand-new vehicle, these items can carry emotional and financial weight — which makes proper insurance protection essential.
Finding the right present, upgrading your car, or selecting a special piece of art can be exciting. But before you slip on that new watch, hang artwork in your home, or drive a new SUV off the lot, there’s an important step to complete: making sure your insurance will actually protect your investment if something unexpected happens.
This updated guide walks through the key types of coverage to consider for popular Valentine’s Day and Presidents’ Day purchases, along with simple recordkeeping habits that can help if you ever need to file a claim.
Why Insurance Matters Before You Use or Gift an Item
For high-value items, waiting to sort out insurance later can lead to trouble. Loss, theft, or damage can happen immediately — even during the drive home, while traveling, or as you’re wrapping a gift. In many cases, the smartest approach is to have coverage in place before you give the item or begin using it yourself.
February purchases often fall into categories that need special attention: engagement rings, collectible watches, deeply discounted vehicles, or newly acquired artwork. Each one may have different insurance requirements. The goal is to make sure your coverage matches the item’s value and potential risks so you aren’t caught off guard during a claim.
Jewelry, Art, and Collectibles: When Homeowners Insurance Isn’t Enough
Many people assume their homeowners insurance will automatically cover all valuables at full value. In reality, most basic policies include strict limits for certain categories, especially jewelry and fine art. It’s common for these items to have claim limits of only a few thousand dollars — far less than their actual worth.
That’s where additional protection becomes important. High-value jewelry, artwork, and collectibles often need separate coverage to ensure complete protection. A common solution is a scheduled personal property endorsement, which lists the item individually and covers it for its appraised value. This type of coverage may also include protections that standard policies typically exclude, such as accidental damage or mysterious disappearance.
To schedule an item, insurers generally require a current appraisal. Updating these appraisals every two to three years helps keep coverage aligned with market value. For fine art, some owners may need a specialty policy that includes coverage for transportation, restoration, and global travel — especially if pieces are moved, loaned, or displayed elsewhere.
Here are a few reminders for February gifts and other valuable items:
- Insurance coverage does not automatically transfer with gifted or inherited jewelry — the new owner must add it to their own policy.
- For high-value pieces, consider standalone “valuable items” or “personal articles” policies offered by many major insurers.
- Keep critical documentation like receipts, photographs, serial numbers, and appraisals. These help establish ownership and value if you need to file a claim.
A thoughtful gift or rare collectible may hold deep personal meaning, but its monetary value is still worth protecting with the right insurance strategy.
Buying a New Vehicle: Understanding Grace Periods and Next Steps
Presidents’ Day has long been known for competitive car deals. Thankfully, most insurers automatically extend coverage to a newly purchased vehicle for a short period — often between seven and 30 days, with many carriers offering 14 to 30 days of protection. During this window, the new car typically receives the same coverage types and limits as the vehicle already listed on your policy with the highest level of protection.
However, there are important details to keep in mind:
- The grace period only applies if you already have an active auto policy that includes at least one vehicle. Without an existing policy, you’ll need coverage before driving your new car.
- If you insure more than one vehicle, the new one will generally take on the broadest existing coverage — but only for the temporary grace period.
- The temporary protection mirrors your current coverage. For example, if your existing car only has liability coverage, your new vehicle will also only carry liability until you make updates.
Before the grace period ends, you must officially add the new vehicle to your auto policy and adjust coverage as needed. If you’re financing or leasing the car, the lender will usually require collision, comprehensive, and sometimes gap insurance to cover the difference between loan balance and market value.
If you also sold or traded in your old vehicle, don’t forget to remove it from your policy to avoid unnecessary premiums.
Any time you purchase a vehicle — during Presidents’ Day or otherwise — remember to:
- Contact your insurer before leaving the dealership or as soon as possible within the grace window.
- Update coverage limits and deductibles based on the new vehicle’s value and your comfort level.
- Adjust details like drivers, garaging location, and usage (personal, business, or commuting).
- Keep your bill of sale, registration, and insurance ID card accessible.
Recordkeeping: Good Habits That Pay Off
Whether you purchase jewelry, artwork, collectibles, or a new vehicle, solid recordkeeping can make a major difference if you need to submit an insurance claim.
Keep essential documents like receipts, appraisals, and serial numbers in one place. Beyond that:
- Store digital copies of appraisals, receipts, photos, and VINs in secure cloud storage.
- Photograph all sides of new purchases for easier identification later.
- Review your home and auto policies annually to confirm coverage limits match what you own.
- Ask your agent whether adding new valuables or vehicles makes you eligible for bundling discounts.
These simple practices create a clear, organized trail that helps insurers respond quickly and accurately when you need them most.
If You’re Running Behind — Don’t Stress
If you bought something weeks or months ago and never got around to updating your insurance, you’re far from alone. Life gets busy, and it’s easy to postpone the paperwork.
The good news: you can still get proper coverage now. Your agent can review your purchases, suggest whether to schedule certain items, and update your policies so they reflect your current lifestyle and belongings.
Final Thoughts: Protecting What Matters This February
Valentine’s Day and Presidents’ Day can bring joyful and memorable purchases — sparkling jewelry, meaningful artwork, a dream car, or a one-of-a-kind collectible. Taking just a little time to think about insurance beforehand adds an extra layer of peace of mind.
If you’re planning a new purchase this February, or if you’ve been meaning to insure something you already bought, now is a great moment to review your coverage. With the right protection in place, you can enjoy your new items confidently, knowing they’re secure from day one.
