Holiday cover has got even cheaper in recent years thanks to tough competition.

KMT and ACE have the cheapest annual cover for an individual at 31 and 32 respectively. * But family cover is an even better deal. ACE and Justcover. ie both charge just 49 for a year's holidaying for a whole family, and you can't argue with that.

Of course, the devil is in the detail, yet most people still don't read the small print and are not covered for things they thought they were covered for.

That's the reason travel insurance is the most widely complained-about financial product . . . it was the subject of over 500 complaints to the financial services ombudsman in 2006.

The small print can even dictate what you get up to on your holidays. For example, Getcover. com allows things like bungee jumping, hot air ballooning and whitewater rafting (grades 1-4) under its policy conditions. But you will have to ring up and arrange a separate quote if you fancy things like camel riding, motorbiking (over 50cc), or 'hydrozorbing' which bizarrely features on the policy document in the long list of things that Irish people might get up on their hols . . .

and maybe shouldn't!

I asked Getcover for a definition of this activity and was told a "zorb, is a gigantic inflatable ball roughly 15 foot or thereabouts in diameter.

Inside it is another smaller ball, suspended into position by over a thousand nylon strands. The 'Zorbanaut' is the person attached in the centre. Hydro zorbing is when water is added inside the zorb and the 'zorbonaut' then moves from side to side to steer the ball down a hill of about 300 metres or more to gain speed. Speeds of 60 km can easily be reached."

So if you fancy bouncing down a hill in a giant inflatable ball full of water, or have any other madcap scheme in mind for your holidays, you'd better read the small print of your travel policy.

Winter sports cover is another important little item.

We all know someone who's been wiped out by a skiing injury and these are getting more common with global warming, as real snow becomes scarce and resorts rely on artificial stuff, which melts in the sun and freezes again into ice when it gets cold.

Even a minor fall can do serious joint damage involving complicated treatment and time-consuming recuperation. You may have to be airlifted off the slopes, treated, taxi-driven to the airport and flown home early.

The bill for all that could come to a four-figure sum that's even more painful than the original injury!

If your policy is renewed automatically, don't assume that winter sports are included in the deal. Often insurers renew your policy with just the basic cover if you don't specify otherwise.

Winter sports cover has got very expensive and will nearly double the cost of many policies. But the reason for this is that winter sports injuries have got a lot more common, so you do without it at your peril.

A recurring niggle about travel insurance is the petty sums offered for flight delays . . . as little as 10 for every 12 hours. Many people wouldn't bother going through the rigmarole of making a claim for such a small sum. Maybe that's the whole point.

I remember spending a sweltering day delayed in Dublin airport thinking: "At least I'm insured". When I looked up the policy details, it turned out I was entitled to 20 quid for having a holiday practically ruined. I didn't bother making the claim, and I bet most of the other passengers didn't either.

So it's handy for insurers to cover an item that bulks up their table of benefits when in practice they rarely have to cough up for it.

There are no huge differences in terms and conditions, though some insurers blow their trumpet about aspects of their policy.

For example, Justcover flags its 24-hour medical emergency service and Getcover includes cover for your pets.

Watch out for penalties for pre-existing medical conditions. Most insurers are strict on this point and one (Blue) even has an online series of questions about whether any family members, even apart from those included in the policy apparently, have any diagnosed terminal illnesses.

VHI is not in the table but it does at least cover for preexisting medical conditions . . .

and provides cover for people up to the age of 80.

Other insurers charge a hefty premium for age or health problems . . . if you can get a quote at all.

And finally: don't feel you have to buy the cover offered by your travel agents. The agent may insist that you have some form of cover, but it doesn't have to be theirs.

Our survey of travel insurance picked an annual policy for Europe for those with health insurance already in place.

CHEAP ANNUAL TRAVEL COVER
Firm Single Family Contact
ACE 32 49 acetravelinsurance. ie
Justcover 36 49 justcover. com KMT 31 55 toptravelinsurance. com
Blue 32.5 59 blueinsurances. com Getcover 35 57 getcover. com
Multitrip policy covering travel across Europe for one year.
Must have separate private health cover.