Whether it's sky-diving, bungee jumping or abseiling, adventure sports have become increasingly popular with thrill-seekers looking for their next dare-devil high.

However, taking part in these exciting sports does not mean that sporty types should throw caution to the wind altogether, one expert has advised.

According to esure, having a decent insurance policy in place before engaging in this kind of activity is imperative and, furthermore, policy holders must check through the small print with a fine tooth comb to avoid any loopholes.

Research carried out by the firm has revealed that the credit crunch has caused consumers to cut back on their insurance - something which could have potentially disastrous side-effects in the event of an accident.

The study found that nearly a fifth (18 per cent) of those polled admitted that they would not buy travel insurance cover to save on the total cost of their winter sports holiday.

Furthermore, over a million (65 per cent) would consider shortening their trip to save money, choosing a weekend break or long weekend away rather than a full week.

Asia Manzoor, spokeswoman for esure travel insurance, said: "Any winter sports holiday comes with a certain element of risk.

"Whether on a nursery slope or a black run, accidents do happen and its crucial to have medical cover to avoid footing a hefty bill."

Research conducted by the Foreign Commonwealth Office (FCO) revealed just how hefty this bill could be for an uninsured holidaymaker.

According to the government department if you need to be returned to the UK from the US' east coast it could cost as much as £45,000.

An air ambulance from the Canary Islands comes with a £16,000 price tag, while a schedules flight, stretcher and doctor escort from Australia could cost as much as £20,000, according to figures released by FirstAssist Services.

Asia Manzoor gave holidaymakers considering taking part in extreme sports this winter some advice.

The expert said: "With the rise in high-adrenaline adventure sports - such as heli-skiing and ice-lake diving – it’s also important to check the insurance small print before booking and be mindful of any exclusions.

"Call your insurer if you’re unsure whether or not you’ll be covered."