This is pretty much how I do it, although often I figure out who a quilt is "destined" for before I get it finished. :)

I have quite a few tops finished. That way I can give the recipient a choice. Each finished top has the backing & binding material folded in the top. This way the recipient can choose something they like & will want to keep.

It's a terrific idea. And be sure to give it to the ones you intended it for. It will make you feel good.

Like others have said, I make what strikes my fancy. I keep all my completed items in a cabinet in my living room. When the occasion calls, I choose one. I like to donate my items to charities who sell them at fundraisers. Sometimes those events come up quickly so I like to have some already made. I think I have 4 quilts ready right now.

Last week I visited two different friends. I brought everything from my cabinet to their houses - 2 laundry baskets full! I let them choose whatever they wanted. I gifted 3 quilts, 3 tote bags, a wristlet and 5 eyeglass cases that day.

I like that they got to choose whichever items they wanted.

I haven't but I think it's a really good idea.

Since all my family and a few of their friends have some of my quilts. I keep many in case I find someone that needs a quilt. Some I don't want to let go of right now but, when someone comes along I will.

I also donate to kids in foster care and some that must be removed from their homes.

I have made 6 of the 8 baby quilts I am making to put away for great-grandchildren I may or may not be around to greet. It's been a fun project and makes me happy that any great-grandchildren I may have will receive something I made for them. My daughter-in-law has agreed to be in charge of letting the parents chose one as needed if I'm not around to help them. It really isn't morbid, but is very satisfying.

I have a couple tops that would take no time to finish if I needed a "just in case" quilt. I don't limit it to quilts though. I always have a supply of "just in case" gifts on hand for those moments when I don't have time to run out and shop.
Hmmmm....wondering why I don't just finish them...???!!!

I frequently make quilts just because I want the challenge of a new pattern or I have the fabric on hand, I am a scrappy lover. I just set the quilt aside when finished knowing the there will be a person who needs the comfort of a quilt. A number of years ago, I had donation blocks, several quilts (3 or 4) finished that I made just to try the pattern and I heard in my heart to give them to a group of mature single women who had been emotionally wounded. So for Christmas that year I gave away 8 quilts. Sure, I had to rush near the end but I also knew I needed to do this for these gals. So, I am all behind your thoughts of making your "just in case" quilt. If they don't leave you can still bless your friends with a quilt for some occasion or no occasion at all.

I have a pile of just in case quilts. Some are finished and bound, others need binding, some need to be quilted. I finish them eventually when I figure out where they are going. Some are gifted to friends. Others go to charity or some good cause. I have given several to friends going thru chemo.