One in eight of these thrill-seekers will fail to take out insurance, according to a new survey by the insurer esure.
Yet skiing and snowboarding holidays are more likely to end in injury than any other kind of trip - one in 14 say they have been injured on the piste on previous winter holidays.
Costly treatments
Not taking out travel insurance can be a very costly mistake to make, with treatment running into thousands of pounds. A broken leg could cost you between £13,000 and £16,000 in the U.S. and up to £7,000 in Europe, according to Aviva.
Many holidaymakers wrongly rely on the European Health Insurance Card (EHIC) to pay for medical treatment. This means you only pay what the locals do, but this is still likely to be far more than in the UK. Also, the EHIC card doesn't cover the associated costs you might incur, such as mountain rescue, private treatment and the cost of getting you back home.
Should you be too badly hurt to take yourself back to your resort, the ominously named blood-wagon could cost you about £200, while evacuation from the slopes by helicopter can cost £1,500.
On top of that, you could need to fly home by air ambulance. In Europe that is likely to set you back around £4,000 while in North America it could be an eye-watering £8,000. Even if you've only damaged your knee, you may still need a specially-adapted airplane to repatriate you as many airlines refuse to carry passengers who can't bend their leg.
Therefore, the EHIC card definitely shouldn't be viewed as an alternative to travel insurance.
Check it out
When comparing travel insurance policies, make sure you look beyond the headline price and ensure that the level of cover is adequate.
Moneysupermarket.com recommends you have at least £2million for medical expenses, £1million for personal liability and £1,500 for your belongings. Also you need £3,000 cancellation cover - or at least enough to repay your holiday if you have to pull out - and £250 for cash.
Don't forget each section usually has an exclusion, which is the portion you pay before the insurer steps in, and can be as low as £20 or as high as £100.
Many French ski resorts ask for proof that you have insurance before they will sell you a lift pass - mainly because of the risk of accidents while you're on the slopes. If you don't already have insurance, you may have to take out cover there and then at ticket office, which is likely to prove much more expensive than if you'd bought it in advance.
Travel insurance covers you for far more than medical treatment and returning you home after an illness or injury.
But don't assume just because you have insurance, that it'll cover you for everything: winter sports insurance can be riddled with exclusions.
Many policies do not cover you for going off-piste without a qualified ski instructor, for example, which can prove an expensive mistake for good skiers. Direct Travel and American Express are among the few that offer it. Skiing out of bounds, where the pistes are marked closed, is always barred.
You won't be able to claim for an accident if you're drunk or high on drugs when it happens.
Claiming for stolen equipment can be tricky too. Most policies state skis and boards must be locked away or within sight when not in use, which is tricky when stopping at crowded mountain restaurants.
Another no-no can be other winter sports. The really dangerous ones, such as heli-skiing or parascending may be excluded, but so too are more light-hearted tobogganing, sledging and even ice-skating in many cases.
If you're taking part in a professional competition, check you're covered. You may need a specialist policy.
Bad weather can easily blight a skiing holiday. High winds, blizzards and too little snow can mean the lifts don't run and the resort is closed. The good news is that many policies will provide compensation of up to £200 for a precious day lost. You'll need written proof from the resort that all the lifts were closed for at least 24 hours to claim successfully.
The bottom line
Given the peace of mind travel insurance offers, it's incredible that so many people take the risk and head off without it as it needn't be expensive. A couple taking out two weeks winter sports cover to Europe could pay just £21.39 each with Elect (White Horse) for example. This gives £10million of cover for medical expenses, £2million personal liability but only £750 for baggage and £750 for cancellation .
For £24.31 you can have £3,000 cancellation cover and £1,500 for your belonging with a lower medical limit of £5million.
If you take more than one holiday a year in Europe, an annual multi-trip policy is usually better value. Elect charges £36.89 per person and Protectyourbubble.com is £38.97 but the cancellation cover is only £500 and £200 for baggage.
Surprisingly, an annual policy can be cheaper than a single trip if you're going to the State.
An annual worldwide policy is £44.96 with Protectyourbubble.com and £49.95 with Elect, while a two week skiing trip to the States costs £49.45 with Insurewithease and £49.46 through OUL Direct.
All these prices, based on a couple travelling, were the cheapest we found on the site this week.
If you already have an annual travel insurance policy, see if it covers winter sports. Adding it to an existing policy may be the cheapest option.
Family policies can also be good value but check the definition of a family. The most generous policies cover up to six children. Age limits for children can vary too. Some stop at 16 or 18, but the best cover those in full time education up to the age of 23.
As a rule of thumb, prices double once you hit 60 and several insurers won't offer you cover at all.
Finally, don't forget to take the contact number of your insurer - just in case.
Please note: Any rates or deals mentioned in this article were available at the time of writing.
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