Free european travel insurance freebies with bank account - Worth it or just a waste of paper?

I know Nationwide flexaccount and Santander premier account include this as long as you pay in a certain amount every month.

Santander its ?500 apparently after telling me initially its ?1000 and is only for old Alliance & Leicester customers I believe or maybe not - they dont know , i dont know - maybe the pope knows?

Is Santander the worst ever bank as was Alliance & Leicester or is it just me - it seems to have brought its bad customer service over with it?
Unfortunately its their travel insurance policy I have! Bummer!

Nationwide flexaccount is ?750
http://www.nationwide.co.uk/insurance/traveloptions/flextravelcover/introduction.htm

Does anyone have any experience of actually claiming on these or if they actually do offer any benefit or should you really rely on it to ensure your holiday!

Some say there are so many clauses in insurance policies these days - even fully quoted for ones that its probably a waste of time having insurance unless you read every single piece of small print.

Its really annoying that we pay for these things to find out we are not even covered from the start and thats even when we have read the policy in minute detail.

What annoys me even more is they send out addendums and changes of policy sections and expect the consumer to actually understand it without the policy itself in front of you!