Set yourself up for success by building small spawn point beds (re-spawn point). So if you do die, you can easily run and get your loot before the skill point reduction timer runs out! For example: I died in a swamp dungeon a few days ago but I have a small hut with a portal in the nearby forest for easy access to this swamp. It was easy, I re-spawned at home, jumped through the portal, made a quick naked run to where I died and retrieved everything way before the timer expired. All because I prepared for that death beforehand, even though I didn't know it would happen for sure.