Every single statistic I’ve seen shows that lost luggage happens around 1% of the time. We fly fairly frequently - on average more than once per month and it’s really not something we think about.
My personal experience is I've had my luggage lost twice in the last 10 years at an average of 6 flights per year, so my personal incidence rate seems to be 2%
It also means that if you fly every week of the year it will likely only happen to you once all year. For the average traveler, it will be more like once in their entire lifetime.
There is absolutely nothing in my checked bag that would be any more than a minor annoyance if it were lost.
My wife and I literally had everything we owned in 4 suitcases for a year and carryon back packs for our electronics.
We got rid of everything we owned that wouldn’t fit in four suitcases in 2022 and hopped around different cities for a year on planes. Even then, if one of our suitcases had been lost, we would have used the airline reimbursement and just gone shopping.
