Definition - What does Lost Luggage mean?
Lost luggage refers to any bag, suitcase, or other form of luggage misplaced by an airline or other transportation company during a trip. Sometimes, due to human error, theft, or other causes, luggage may be damaged, misplaced, or lost and never make it back to the original owner.
Insuranceopedia explains Lost Luggage
Luggage may be lost if it is accidentally placed on the wrong airplane, if it doesn't make it to the connecting flight, gets stolen, and so on. Besides the hassle, this results in financial losses for the traveler. Travel insurance plans offer lost luggage coverage and reimburse policyholders for lost, delayed luggage, or damaged luggage, depending on the policy. Specific baggage insurance is available as well. Lastly, some credit cards even include baggage insurance as one of their perks.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.