The EU card also only allows you to access local healthcare on the sans terms as their residents - so there may be charged even for state healthcare. Annual policies are good value should you travel frequently and are not already covered on your credit or charge card. Otherwise may be cheaper to buy on trip by trip basis.

A significant number who go abroad each year will come to grief and if you are one of them, with no insurance, then the cost of repatriating you could bankrupt you. Not having insurance is serious gambling. Single trip cover is very expensive ( multiply X 26 or 52 and see the equivalent annual rate) but if you go abroad twice or more then annual insurance is far cheaper.

depends how often you go away, and what you do whilst there, if you partake in sports (basically anything involving equipment) then Dog Tag are great, if you just want "sitting by the pool having a beer" insurance then the Post Office are good as well.

My Lloyds account I have a deal for £12.99 a month to get world wide travel, phone and car passenger insurance (I think)

Not sure I'd call that a "deal"!