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February may be one of the shortest months of the year, but it often brings some of the biggest purchases. From sentimental Valentine’s Day gifts to major Presidents’ Day sales, it’s a time when many people invest in meaningful items that carry both emotional and financial value. Before you surprise someone with a special piece of jewelry or drive away in a new car, it’s important to make sure those purchases are properly protected.

It’s easy to get caught up in the excitement of finding the perfect ring, discovering a beautiful piece of art, or grabbing a great deal on a new vehicle. But before you put these items to use, there’s a key step that often gets overlooked: confirming that your insurance coverage is ready to protect them from loss, damage, or theft.

This post walks through the coverage considerations that matter most around Valentine’s Day and Presidents’ Day—especially for jewelry, artwork, collectibles, and new vehicles—and includes simple recordkeeping habits that can help safeguard your investment.

Why Coverage Should Come First

When you’re purchasing something valuable, waiting to “handle the insurance later” can be a risky move. High-value items are vulnerable immediately—whether they’re being transported home, wrapped as a gift, or used for the very first time. Securing coverage ahead of time ensures you won’t be caught off guard if the unexpected happens.

February highlights this need. A proposal-worthy ring, a collectible watch, a Presidents’ Day car purchase, or a newly acquired art piece each brings its own coverage requirements. Matching the insurance to the item’s actual value is the best way to avoid gaps that could leave you financially exposed during a claim.

Jewelry, Artwork, and Collectibles: Beyond Basic Homeowners Insurance

Many people assume that their homeowners insurance automatically covers all valuables. In reality, most policies cap reimbursement for items like jewelry and fine art. These limits often fall between $1,000 and $5,000—far lower than the value of many gifts exchanged this time of year.

To protect high-end items fully, additional coverage is often necessary. Scheduling jewelry, artwork, or collectibles through a personal property endorsement ensures you receive the item’s full appraised value if something goes wrong. These add-ons can also expand coverage to include risks not typically covered by standard homeowners insurance, such as accidental damage or mysterious disappearance.

To add scheduled coverage, insurers generally require a current appraisal. Those valuations should be updated every few years to keep pace with market changes. Fine art collectors may also need specialized policies that cover transit, restoration, and worldwide protection—especially if pieces are moved, displayed, or loaned out.

Keep these reminders in mind for high-value gifts around Valentine’s Day:

• Insurance doesn’t transfer automatically when jewelry is gifted or inherited. The new owner must add it to their own policy.
• For especially valuable pieces, consider separate policies such as “valuable items” or “personal articles” coverage, commonly offered by major carriers.
• Maintain appraisals, receipts, photos, and serial numbers to simplify both coverage setup and claims.

While the sentimental value of a romantic gift or rare collectible is irreplaceable, the financial value should always be backed by appropriate insurance.

New Vehicles: Understanding Grace Periods

Presidents’ Day is a prime time for car shopping, and many buyers take advantage of seasonal discounts. Most insurers offer a short-term grace period that extends your current auto coverage to a newly purchased vehicle—typically seven to 30 days, with many offering two to four weeks.

During this timeframe, the new vehicle usually adopts the same coverage levels as another car already listed on your policy. That said, there are important details to understand:

• The grace period only applies if you already have an active auto policy. If you don’t currently insure a vehicle, you’ll need to secure coverage before you drive the new car.
• If you insure multiple cars, the new one typically receives the broadest coverage you carry on any vehicle—but only during the grace window.
• Your temporary coverage mirrors your existing limits. If your current policy only carries liability, your new vehicle will also only have liability until you make updates.

Before your grace period expires, your insurer will require you to officially add the new car to your policy. If the vehicle is leased or financed, the lender will likely require comprehensive and collision coverage, and may also recommend or mandate gap insurance to cover the difference between the loan balance and the vehicle’s actual cash value.

If you’re trading in or selling an older car, don’t forget to remove it from your policy so you aren’t paying for coverage you no longer need.

Whenever you purchase a new vehicle—during a holiday sale or anytime—make it a habit to:

• Notify your insurer before leaving the dealership or as soon as possible afterward.
• Review coverage limits and deductibles to match your new car’s value and your comfort level.
• Update driver details, garaging address, and usage patterns.
• Store your bill of sale, registration, and insurance documentation for easy access.

Recordkeeping That Protects You

Whether you’re buying jewelry, art, collectibles, or a vehicle, organized recordkeeping is one of the most effective ways to streamline claims and ensure accurate coverage.

Keep receipts, appraisals, and serial numbers handy. Digital backups add another layer of protection, making it easy to access records from anywhere if something happens. Additional tips include:

• Save electronic copies of receipts, appraisals, photos, and VINs in secure cloud storage.
• Take comprehensive photos of new purchases, including distinguishing features.
• Review your homeowners and auto policies annually or after significant purchases.
• Ask your agent if adding new valuables or vehicles qualifies you for bundling discounts.

If You Haven’t Updated Your Coverage Yet

If you bought something recently and meant to update your insurance but didn’t, you’re not alone. This is a common oversight, especially when life gets busy. Fortunately, it’s never too late to get back on track.

An agent can help you review your items, determine whether scheduled coverage is appropriate, and make policy updates that align with your current needs and lifestyle.

Enjoy February—And Protect What Matters

Whether you’re celebrating Valentine’s Day with a memorable gift or taking advantage of Presidents’ Day deals on big purchases, a little preparation goes a long way. Ensuring your new jewelry, artwork, or vehicle is properly insured gives you peace of mind to enjoy the moment fully.

If you’re planning a meaningful purchase this February—or need to update your coverage for something you’ve already bought—taking a few minutes to review your insurance can help protect what matters most.