yes and no.

i have a fairly large engagement ring which i wear everywhere (europe, china, thailand) along with my (like lalala's) non-blingy cartier watch. (my first trip to china i wore a timex, but i've been MANY times since and just wear my regular watch.) the ring itself is very simple except for the rock and my wedding band is also. there have been a few occasions where i've turned it for 10 minutes or whatever, but that can happen in the us as well. it's insured, i love it and i wear it.

my other good jewelery tends to stay at home unless i'm attending an event like a wedding or something.

my diamond studs stay home when i travel outside the us...but they're fairly large.

i had an experience similar to peachfront...a number of years ago i went out of town with a boyfriend. i left all my good stuff at home, so it would be 'safe.' we got back to find my place had been burglarized and everything of value was taken. in those days, i wasn't insured, either.