HSBC Premier Mastercard or Visa.

As long as your airline ticket is bought with the card, it covers Loss or Baggage Delay. Between 6 hours and 48 hours of delayed luggage, coverage is equivalent US$560. After 48 hours, and within 4 days coverage is US$3500. If luggage is found after than time, you still get to keep all the expenses.

I'm also covered under AIG's TravelGuard insurance which covers $200 a day after the initial 12 hours baggage delay. They also helped me track the bag, which I didn't even know that they could do that!