I agree with you about credit card travel insurances. I (pathetically, perhaps) spent a bit of time and studied the policy carefully and decided to take out a proper annual travel insurance at the cost of approx. €350 after all. I don't spend money unnecessarily on insurance (I hate it!), so I had a good reason to do so.

At one point I had three travel insurances - one on credit card (supposedly one of the best CC policies but still rubbish), two annual policies because 'normal place of residence' was badly defined and I was not sure if I was adequately covered and I could not get an answer - so I had to take an annual policy in two different countries.

The laughable thing is that when I had three coverages, I did not have any cause to make a claim on any of them - one flight-delay induced additional costs were mitigated by the transport and the hotel both doing me a favour!

So it felt almost like a waste of money. But I still have the CC policy and a separate travel insurance because it gives me the peace of mind to carry expensive rubbish in my check-in bag as well as to get injured during my trips (touch wood, I hope I don't need to make a claim).