February may be the shortest month of the year, but it has a way of becoming one of the most expensive. With Valentine’s Day gifts, romantic surprises, and major Presidents’ Day deals—especially on cars—many people make some of their most meaningful purchases right in the heart of winter. These items often carry both sentimental and financial weight, making it essential to ensure they’re properly protected.

It’s easy to get swept up in the excitement of choosing the perfect engagement ring, finding a standout piece of artwork, or driving a brand‑new car off the lot. But before you put that gift in a box or take your new purchase for a spin, there’s an important step you shouldn’t overlook: confirming that your insurance coverage truly fits the value of what you’ve just brought home.

This article breaks down the key types of protection to consider for Valentine’s Day and Presidents’ Day purchases—from jewelry and fine art to new vehicles—along with helpful tips for keeping your records organized so you’re prepared if something unexpected happens.

Why It’s Important to Review Coverage Before You Use or Gift an Item

With high‑value purchases, waiting until later to figure out insurance can lead to costly gaps in coverage. Items can be damaged, lost, or stolen almost immediately—sometimes even on the same day you buy them. Whether something happens on the way home from the store, during a trip, or right as you’re giving the gift, the risk is real.

February is a big month for sentimental and big‑ticket purchases, which makes timely coverage especially important. Engagement jewelry, collectible watches, newly purchased artwork, and vehicles bought during Presidents’ Day sales each have unique insurance needs. Getting ahead of those needs ensures you aren’t left surprised if you ever have to file a claim.

Jewelry, Art, and Collectibles: Why Homeowners Insurance May Not Be Enough

Many people assume their homeowners policy will automatically cover valuable personal items at full value. In reality, most basic policies have strict limits—especially for jewelry and fine art. Standard policies often cap claims for these categories between $1,000 and $5,000, which may fall far short of what your item is worth.

That’s where additional protection becomes essential. High‑value items such as jewelry, fine art, or collectibles often require separate coverage beyond what a homeowners policy provides. Adding a scheduled personal property rider (also known as an endorsement) allows you to insure these pieces for their full appraised value. This type of coverage may also include protection for risks not typically covered by standard homeowners insurance, such as accidental breakage or mysterious disappearance.

To schedule an item, most insurers will require a recent appraisal. Since values can change, plan to update appraisals every two to three years to keep your coverage accurate. For fine art, some insurers may recommend or require a specialty policy that includes coverage for transit, restoration, and damage—especially useful if you move, loan the piece to a gallery, or take it with you while traveling.

Here are a few helpful reminders for protecting high‑value Valentine’s Day gifts or special purchases:

• If you’re giving jewelry as a gift, coverage doesn’t automatically transfer. The recipient must add the item to their own policy.
• For especially valuable items, consider stand‑alone policies such as “valuable items” or “personal articles” coverage, commonly offered by major carriers.
• Keep receipts, appraisals, photos, and serial numbers organized. These records help you establish coverage and simplify the claims process if you ever need to file one.

The sentimental significance of a romantic gift or collectible may be priceless—but its financial value deserves proper protection too.

Buying a New Car? Understanding Grace Periods and Key Coverage Steps

Presidents’ Day is one of the most popular times of year to buy a new vehicle. Fortunately, many insurance companies offer an automatic grace period—typically seven to 30 days—during which your new car receives temporary coverage under your existing auto policy. Most carriers fall within the 14‑ to 30‑day range, giving you a short window to formally update your policy.

Here are some important details to keep in mind:

• The grace period only applies if you already have an active auto policy. If you don’t have insurance, you’ll need to secure coverage before driving your new vehicle.
• If you insure multiple vehicles, the new one is usually covered temporarily under the broadest level of protection in your policy.
• Temporary coverage mirrors your existing policy. For example, if you only have liability coverage today, your new vehicle will only have liability until you make updates.

Before your grace period ends, make sure your new vehicle is officially added to your policy—and that your limits and coverage types reflect the car’s value. If the vehicle is financed or leased, the lender will likely require comprehensive and collision insurance, and may recommend or require gap insurance to bridge the difference between your loan balance and the vehicle’s actual cash value.

If you’re trading in or selling an older vehicle, don’t forget to remove it from your policy so you’re not paying for unnecessary coverage.

Whenever you bring home a new car—Presidents’ Day or otherwise—make it a habit to:

• Contact your agent or insurer before driving off the lot, or as early as possible within the grace period.
• Adjust limits and deductibles to match your new vehicle’s needs and your comfort level.
• Update details such as how the vehicle will be used, who will drive it, and its garaging address.
• Keep key documents, including your bill of sale and registration, stored in an accessible location.

A quick call or email can help ensure your new car is protected from the very beginning.

Recordkeeping Tips That Make a Big Difference

Whether you’ve purchased jewelry, art, a collectible, or a vehicle, having the right documentation can make the insurance process far easier. Good recordkeeping supports your coverage and helps your insurer verify value and ownership if you ever need to file a claim.

To stay organized, consider the following habits:

• Save digital copies of receipts, appraisals, photos, and VINs in secure cloud storage.
• Photograph new items from multiple angles, including any unique identifiers or markings.
• Review your homeowners and auto policies at least once a year or after major purchases.
• Ask your agent about bundling or multi‑policy discounts after adding new valuables or vehicles.

These simple steps create a reliable record that can help ensure fair and efficient claims handling.

If You’re Behind on Coverage, Don’t Stress—You Still Have Options

If you made a purchase weeks or even months ago and never got around to updating your insurance, you’re not alone. Life gets busy, and it’s easy to forget. The good news is that it’s not too late to get the protection you need.

Your agent can help you review your items, determine whether anything should be scheduled, and update your coverage to better match your current belongings. What matters most is making sure you're protected moving forward.

Final Thoughts: Enjoy the Season and Safeguard What Matters Most

Valentine’s Day and Presidents’ Day often bring memorable purchases—sparkling jewelry, special artwork, new cars, or one‑of‑a‑kind collectibles. Taking a little time to review your insurance beforehand is an easy way to protect both the emotional and financial investment behind those items.

If you’re planning a purchase this February, or if you have recent items you haven’t insured yet, I’m here to help you make sure everything is covered properly. A quick chat can give you peace of mind so you can fully enjoy your new gifts, artwork, or vehicle knowing they’re well protected.