Originally Posted by eternaltransit

It's only usually travel insurance that excludes flights where the destination is in the policyholder's country of residence - the carrier still has liability under the Convention for damage caused by delays (but not unforeseeable consequential damage).

Unfortunately the Conventions do not specify a specific limit for damages from delay of baggage - if you are unsatisfied with EK's response you would likely have to press a claim (which is quite easy in the UK).

Originally Posted by Montreal Convention

Article 22

Limits of Liability in Relation to Delay, Baggage and Cargo
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2. In the carriage of baggage, the liability of the carrier in the case of destruction, loss, damage or delay is limited to 1 000 Special Drawing Rights for each passenger unless the passenger has made, at the time when the checked baggage was handed over to the carrier, a special declaration of interest in delivery at destination and has paid a supplementary sum if the case so requires. In that case the carrier will be liable to pay a sum not exceeding the declared sum, unless it proves that the sum is greater than the passenger’s actual interest in delivery at destination.