February may be the shortest month of the year, but it’s often one of the priciest. Between romantic Valentine’s Day gifts, meaningful jewelry, and the big auto deals that come with Presidents’ Day, many people make significant purchases during these few winter weeks. These items frequently carry both emotional and financial weight, which makes it essential to ensure they’re fully protected.

It’s tempting to focus only on the enjoyable parts—finding the perfect ring, scoring a great bargain on a new car, or finally purchasing that piece of art you’ve admired for months. Yet before you slip on the jewelry, hang the artwork, or drive that new vehicle home, there’s an important step you shouldn’t skip: verifying that your insurance will truly safeguard you if something unexpected happens.

This rewritten guide explores the insurance considerations worth keeping in mind for Valentine’s and Presidents’ Day purchases—whether you’re dealing with jewelry, collectibles, fine art, or a brand-new vehicle—along with a few organizational habits that can help you avoid stress down the road.

Why Insurance Should Be Secured Before the Gift or First Use

When it comes to high-value items, delaying coverage can be risky. Loss, theft, and accidental damage can happen early—sometimes even before the gift is officially given. Items can be misplaced on the way home from the store, damaged during travel, or stolen shortly after purchase. For especially valuable belongings, it’s smart to have insurance in place before they’re worn, displayed, or handed to their new owner.

This is particularly important in February. An engagement ring planned for a proposal, a high-end watch, a Presidents’ Day vehicle purchase, or a newly acquired art piece each carries its own set of insurance needs. The goal is simple: make sure your coverage reflects the value of the item so you don’t face unwelcome surprises if you need to file a claim.

Jewelry, Artwork, and Collectibles: Why Homeowners Coverage Isn’t Always Enough

Many people assume their homeowners insurance will automatically cover all valuables for their full worth. In reality, most policies include category limits—especially for items like jewelry or fine art. It’s common for standard homeowners coverage to cap claims for these items between $1,000 and $5,000. If your new purchase exceeds that amount, you may not receive the full value in the event of a loss.

This is where added protection becomes essential. High-value jewelry, collectibles, and art pieces often need supplemental coverage beyond what a basic homeowners plan provides. A scheduled personal property endorsement (also known as a rider) allows you to insure valuable pieces individually, ensuring you’re reimbursed for their full appraised value. These riders often protect against risks not covered by standard policies, such as mysterious disappearance or accidental breakage.

To schedule an item, insurers typically require a current appraisal, and those valuations should be updated every few years to maintain accurate coverage. Some fine art may even need its own specialized policy that covers global transit, restoration work, or damage during exhibitions. This can be especially important if artwork is loaned to galleries or moved frequently.

Here are a few helpful reminders when insuring Valentine’s Day gifts or other valuable additions:

• If jewelry changes owners—whether through gifting or inheritance—the insurance doesn’t automatically follow. The recipient must add it to their own policy.
• For pricier pieces, consider standalone “valuable items” or “personal articles” coverage offered by many major insurance companies.
• Keep detailed documentation such as receipts, photographs, appraisals, and serial numbers. These records help confirm ownership and value if you ever need to submit a claim.

Romantic gifts and meaningful collectibles may not be replaceable emotionally, but the financial side can be protected with the right insurance strategy.

Buying a New Vehicle: Understanding Grace Periods and Next Steps

Presidents’ Day is well-known for its vehicle sales, making February a popular time to upgrade cars, trucks, and SUVs. Fortunately, most insurers automatically extend coverage to a newly purchased vehicle for a limited “grace period,” typically lasting between 7 and 30 days (many falling in the 14–30 day range). During that time, the new car usually adopts the coverage types and limits of another vehicle already on your policy.

However, there are important details to keep in mind:

• The grace period typically applies only if you already have an active auto policy. If not, you must secure insurance before driving the new vehicle.
• If you insure multiple vehicles, the new one often takes on the broadest coverage you carry—again, only during the grace period.
• The temporary protection mirrors what you already have. So, if your current vehicle only carries liability coverage, your brand-new car will have liability-only until you update your policy.

Before the grace period ends, be sure to fully integrate the new vehicle into your policy and adjust coverages as needed. If you’re financing or leasing, your lender will require comprehensive and collision coverage and may recommend gap insurance to cover the difference between the car’s value and your loan balance.

If you’re trading in or selling an older car as part of the purchase, don’t forget to remove that vehicle from your policy to avoid unnecessary premiums.

When purchasing a car—on Presidents’ Day or any time—consider these habits:

• Reach out to your insurance agent before driving off the lot or as soon as possible afterward to update your policy.
• Reevaluate coverage limits and deductibles based on the value of your new vehicle.
• Ensure your policy reflects how the vehicle will be used, including commute details and garaging location.
• Keep documents like the bill of sale, registration, and insurance ID card accessible for everyday use and future claims.

Recordkeeping Tips That Make a Big Difference

Whether you’re insuring fine art, jewelry, collectibles, or a new vehicle, solid recordkeeping makes a big impact. Organized documentation helps you establish coverage smoothly and can make the claims process far less stressful.

Consider improving your recordkeeping with the following steps:

• Store digital copies of receipts, appraisals, photos, and VINs in secure cloud storage.
• Photograph new items—including identifying features—to help with claims if needed.
• Review your home and auto insurance annually to confirm limits still match what you own.
• Ask your agent whether recent changes qualify you for bundling discounts or other savings opportunities.

Good documentation creates a clear, accessible trail that supports a smooth, fair claims experience when you need it most.

If You’re Behind, Don’t Stress

If you purchased something valuable months ago and never got around to updating your insurance, you’re far from alone. With busy schedules and the excitement of new purchases, it’s easy to put this task off. Fortunately, your agent can still help evaluate your items, recommend appropriate coverage, and ensure your policy is aligned with your current lifestyle.

Final Thoughts: Enjoy the Season While Protecting What Matters

Valentine’s Day and Presidents’ Day can introduce some of the most meaningful purchases of the year—from sparkly gifts to new vehicles to treasured artwork. Taking just a little time to address the insurance side of things is a smart way to safeguard both the emotional and financial investment.

If you’re planning a special purchase this February—or if you have items you’ve been meaning to insure—reach out for guidance. With a quick conversation, you can enjoy your new jewelry, artwork, or vehicle with peace of mind, knowing you’ve taken the right steps to protect them.