Valentine's Day & Insurance: Protecting the Ones We Love

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This Valentine’s Day, let acts of service be your love language by taking practical steps to insure your loved one’s health, belongings and future. While insurance-related gifts might not be the most flashy, the security and peace of mind they bring can still be a romantic gesture.

Keep reading to learn more about insuring gifts of jewelry, travel insurance if you’re embarking on a romantic getaway and other insurance ideas for Valentine’s Day.

Key Takeaways

  • Major life events in a relationship such as moving in together, having a child or changing a job are good times to shop for a new insurance policy that better meets your coverage needs and budget.
  • Couples should evaluate the benefits of combining their health insurance this Valentine's Day for potential cost savings and streamlined benefits management.
  • Jewelry and other valuables typically receive limited coverage and you need to buy additional coverage if you want to insure them for the full value.
  • In some cases, a married person may be charged less for insurance than somebody who is single.

5 Insurance Moves You Should Make on Valentine’s Day

Insurance isn’t the most romantic gift, we get it. However, financial responsibility and future planning can be two pillars among many others that can prop up a strong relationship. Below are a few insurance-related moves you might want to make this Valentine’s Day.

1. Insure Your Jewelry and Other Valuables

While your insurance company will usually insure jewelry, watches and other gifts you might exchange on Valentine’s Day, the coverage is usually limited. For example, if you have $100,000 in personal property coverage, your homeowners or renters insurance company may cover a ring for only up to $1,500 despite it having cost $5,000.[1]

To fully insure the value of your Valentine’s Day gifts, you will need to buy scheduled property coverage and add it to your policy. That way, you can receive a full payout in case your gift is stolen or otherwise lost due to a covered insurance peril.[1]

2. Review Your Insurance Policies Together

Major life events in a relationship such as moving in together, buying a new home, having a child or starting a new job can change your insurance needs. For example, if you already own your home and your significant other is moving in with you, you may want to increase your personal property coverage limits to ensure you have coverage for both of your belongings.

These changes can increase your premium and is why they are generally good times to shop around for a new policy.

Children are another factor that can alter coverage. For example, if your teenage child just got their driver’s license, you may learn that your auto insurance rate can go up considerably due to their driving inexperience increasing the chances of them getting into a car accident. While adding a teenage driver to your policy will almost certainly cause your rates to go up, shopping around can help you find a policy with a manageable rate hike.

In addition, couples should discuss the beneficiaries of their life insurance policies to ensure they are up to date. For example, if you remarried and your ex-spouse was the listed beneficiary in your life insurance policy, you may want to update that to your new spouse.

3. Consider Travel Insurance

If you and your significant other are going on a romantic vacation for Valentine’s Day, you may want to look into travel insurance. Travel insurance is a way for travelers to protect against the unexpected costs and challenges that can arise during a trip. It typically includes coverage for trip cancellations or interruptions, lost or stolen luggage, medical emergencies and sometimes travel delays. If your trip is suddenly canceled for any of these reasons, you can recoup some of the expenses paid toward this trip.

4. Consolidate Your Health Plans

Consolidating health insurance this Valentine’s Day is a strategic move that couples should consider. This involves evaluating whether it's more beneficial for both partners to be on the same health insurance plan rather than maintaining separate policies. Couples should compare their individual health plans to determine which offers better benefitsand more comprehensive coverage. Factors like network of doctors, prescription drug coverage and plan type should be considered.

This consolidation can often lead to reduced overall costs and simpler management of health benefits. However, it's crucial to weigh the pros and cons, as consolidating isn’t always the most cost-effective choice for every couple. In fact, you may stand to have lower out-of-pocket costs overall with two healthcare plans (dual coverage) if you’re on each other's plans.[2]

Keep in mind, though, that you may only be allowed to join your spouse’s employer-sponsored health plan during their workplace’s open enrollment period.

5. Look Into Joint Life Insurance

This Valentine’s Day, take time to consider your future by looking into purchasing a joint life insurance policy. While less common, joint life insurance can be a cheaper alternative to buying two life insurance policies separately if it fits you and your partner’s needs.[3]

Joint life insurance typically comes in two forms: first-to-die and second-to-die. First-to-die life insurance pays a death benefit to the surviving spouse if one dies, while second-to-die life insurance only pays out if both spouses die, with the death benefit going to a listed beneficiary such as a child.

Can You Save Money on Insurance on Valentine’s Day?

Insurance companies generally do not offer discounts specific to Valentine’s Day, although you should ask your insurance company if they offer a discount if you’re married. Some car insurance companies offer a discount to married persons because those who are married are perceived to be of lower risk than those who are single.[4]

While you’re at it, you should ask all of your insurance carriers about other available discounts. For example, your home insurance company may offer a discount for installing smart home devices and your auto insurance carrier may reduce your rate if you complete a defensive driver course. If you and your significant other have a child who is also a listed driver on your auto policy, you may even get a discount if they maintain good grades.


Can you gift someone life insurance?

Yes, it is possible to buy life insurance for somebody else with their consent.[3] Alternatively, you can buy life insurance yourself and list your significant other as the beneficiary of your death benefit.

Should you review your insurance policies regularly?

Yes, you should review your insurance policies regularly. This ensures that your coverage continues to meet your changing needs and circumstances and may also help identify potential savings or necessary updates to your policy.

Do insurance carriers provide discounts on Valentine’s Day?

Insurance companies generally do not offer discounts on insurance policies, although some companies like AAA may have partnerships with companies and may be able to offer Valentine’s Day discounts on flowers, chocolates, wines and more.[4]


  1. Insurance Information Institute. “Special Coverage for Jewelry and Other Valuables.” Accessed Jan. 29, 2024.
  2. Medical AIDS Outreach. “Can You Have Two Health Insurances? Understanding Dual Coverage Benefits.” Accessed Jan. 29, 2024.
  3. USAA. “Giving the Gift of Life Insurance.” Accessed Jan. 29, 2024.
  4. National General. “How Does Getting Married Impact My Car Insurance?” Accessed Jan. 20, 2024.
  5. AAA. “Valentine’s Discounts.” Accessed Jan. 20, 2024.

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