Yes, I swap out my jewelry. I leave my big, flashy items at home. For several reasons:
1) I don't like to stand out and we often travel to poor countries. I prefer to blend in and I definitely don't want to appear well off.
2) I don't want to lose or damage my better jewelry.
3) Theft or loss from others.
I nearly always have some kind of ring on my wedding band finger, I have "traveling jewelry" of all kinds. It's gold, but not the pricey stuff. If I were going to State Dept dinners, Fashion Shows, big Corporate Meetings or Art Openings, I'd bring nicer things, but we're usually out in the boondocks on vacation and there's nothing fancy in the our plans. Usually I'll bring one pair of earrings, one gold necklace, and two rings. I take them off at night and have one place in my luggage where they live.
When at home, I change out my jewelry quite a bit anyway, because I ride horses, cook and garden, and generally don't wear my fancy stuff that I could bang up. I used to wear my big wedding diamond 24/7, until one day a horse bucked me off and my beautiful keepsake diamond was jarred from the setting and lost in the sand forever. I've never recovered from that and I'm very careful now with my good stuff, especially rings.