Lost Luggage, Lost Money

Q. My luggage was recently lost and I'm having a hard time convincing the airline of exactly what the contents were worth. In fact, the sum they're offering is nowhere near their $3,000 limit of liability. What can I do?

A. Although it may sound tedious, saving your receipts can really help you out in a situation like this. Losing a $50 shirt may not seem like the end of the world, but lose a bag full and that can really add up. So start squirreling away those receipts, and not just for electronics but for clothing, jewelry, and every little ho-hum purchase.

Another thing you could do to prevent something like this from happening down the road is upping the limitation of liability by purchasing Excess Valuation. For example, Continental sells coverage (in addition to the $3,000 they're already liable for) in increments of $100 for $1. Or $2 for round-trip coverage.

Of course, trip insurance can also save you in a bind like this, as well as some premium card services offered by American Express, that not only cover you if you're luggage is lost forever, they'll pay up to several hundred dollars to replace "necessary personal articles" if your bag is delayed for six hours or longer.