Yes, I have up to $3000USD coverage through the card I used to book the tickets, although, obviously, I am going to hammer BA to pay up as hard as I can first. I've alerted the credit card company and filed a claim and they said to let them know within 21 days if the airline has not indicated they will compensate. I also had separate
travel insurance (not through BA) and I believe this will also cover my expenses since this occured on the European part of the trip (my coverage did not include the legs from the USA, but BA confirmed the luggage had arrived at Heathrow, but never made it to Charles DeGaulle).
I am just thankful we packed necessities in our carry-on. I had a bag lost in Hong Kong a couple of years ago, but it arrived on the next flight in, but ever since then, I pack my small cosmetics in my ziploc bag (and with five people, we were able to use five ziploc bags).
And luckily my wife and son had packed their contact lens trays/solution and glasses in their carry-on because they wanted to take out their contacts to sleep on the plane.