direct travel insurance

Is it safe to buy cheap travel insurance online?
I'm going on holiday on Thursday with my friends and they were originally, without travel insurance. However, I changed my mind and was looking for a cheap insurance. I found a policy, which has 10 million pounds of medical expenses, £ 2m liability cover staff, closing fees £ 3,000 and £ 2000 to cover baggage, and all for £ 4.73. Is this too good to be true? The Columbus company called EUROPE DIRECT, and are a burden. There have been 2000 visits to the site itself. This is not that I do not trust them – I'm sure you probably are very good, but it is advisable to obtain cheap insurance online? I do not want does not hurt or anything and then find the company is a rip off!
Go with a stable and proven. I use a decade from Travelex. You policyt not find better value there. http://www.travelex-insurance.com/index.asp?location=07-0018
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