The policy is designed to cover jewelry that is lost, stolen, or damaged during travel. You can purchase a travel jewelry insurance plan that covers the items you bring with you on any given trip. You will usually have coverage up to a certain dollar amount and the price of your insurance is determined by how much coverage you want; however, rates vary by company. If something happens to your jewelry while you are on vacation, you will need to provide a police report and/or an insurance claim form to the insurance company. Depending on the situation, you may also be required to send in the damaged or lost jewelry for inspection.