James Tierney wrote: British cycling membership of at least go ride / silver level includes decent insurance.
Jim, as far as I understand it, Silver membership will provide a third party liability insurance while Gold provides a Personal Accident insurance. This is not the same as travel insurance and wouldn't cover Michael O'Leary trying to save some costs by leaving your luggage in a cupboard somewhere.
Sad reality is that you don't know how good a travel insurance policy is until you try to claim on it! I have a normal annual travel insurance, but also use SportsCoverDirect whenever I'm doing an organised event abroad (technically classed as a race). However, read the small print, very few of these firms will cover you for anything near the full cost of some bikes if they go missing in transit.
We are off biking in France and taking road bikes. For reasons beyond my control annual insurance has not been renewed so need to get single trip insurance but notice on searches its of the policies don't cover bikes.