Heading off to the ski slopes for a winter break is becoming increasingly popular as low cost flights have made Europe's best-known resorts more accessible.

Cheap flights to Geneva, for example, make it possible to fly out for the weekend. But rental accommodation in most Alpine resorts is still expensive and can be woefully inadequate. What seasoned skier can forget tiny apartments with cramped kitchens meant for two people - but sleeping four - in crowded, purpose-built resorts?

One alternative is to buy a property and let it out when you are not using it. As well as the 16-week winter ski-season, a number of resorts now offer "dual season" potential, raising the possibility of year-round rental income. The French resort of Chamonix is said to be more popular now in the summer than during the winter.

But how much will it cost, and what sort of rental income can you expect? The more prestigious resorts in the French and Swiss Alps are still beyond the means of most pockets. But it is possible to buy in nearby areas more cheaply. Chalets in the most expensive ski resorts such as Courcheval, Val d'Isere in France and Verbier, in Switzerland, very rarely come on to the market and start from around £500,000. Sainte-Foy and Portes du Soleil are in the nearby ski areas and properties here can be found under the £100,000 mark.

Zigi Davenport of Alpine Apartments Agency says demand for property in the French Alps has doubled over the past year. "The highest turnover is at the top end of the market - three or four-bedroom apartments," she says. "The good news for the first-time buyer is there are still plenty of studios and small one-bed apartments for sale and prices have stayed static."

Ms Davenport claims almost any property let for three weeks in the high season of February should produce enough income to cover the annual running costs. "Take Chamonix. A two-bedroom apartment in a good location, costing around £120,000, sleeping between four and six people could charge as much as £1,500 a week in the peak season," she says.

Buyers tend to fall into distinct categories. Serious skiers head for the resorts with the longest season such as Val d'Isere. The 300 kilometres of piste in L'Espace Killy is served by 96 lifts and much of the skiing is between 2,300 and 3,000 metres. The high altitude makes it too high to be classified as a dual season resort and available property is few and far between.

Couples with children are attracted to family resorts. The tiny hamlet of Sainte Foy has been described as the "best-kept secret of the Alps". It is located at an altitude of 1,550 metres and has easy access to Val d'Isere and Les Arcs. It is also said to have the best off-piste skiing in the region. Prices for a two-bedroom apartment start at around £120,000.

Portes du Soleil is a ski area made up of 13 villages on the French and Swiss borders, just an hour's drive from Geneva. Studio apartments in Morzine, one of these villages, start at £22,000 while two or three-bedroom apartments sell for £90,000.

British buyers, it seems, are increasingly buying off-plan. Potential buyers see a proposed development at the planning stage and chose a particular plot.

James Rodwell of Snow and Sea French Properties says he has seen sales increase 40% over the past year. The company is the UK agent of MGM, one of France's largest developers, and has properties in several locations in the Alps. He believes buying off-plan has a number of advantages.

He says: "Most developments have seen a 20% increase over three years. One of our sites in Mirabel was initially sold at £2,000 per square metre. When completed it will fetch £4,000 per square metre."

Buyers put down an initial deposit of 5% and further payments are made usually in six stages over the duration of the building work. With the larger developments, Mr Rodwell says, this takes about three years, during which time the option on the property cannot be sold. Smaller developments of 20 apartments are usually completed within 18 months.

New construction in the French Alps hit an obstacle this summer with the introduction of the Loi de Montagne. The law will restrict any further building in the Savoie region. The legislation has already put a stop to some planned developments and could have a knock-on effect on housing prices, restricting still further the supply of property in some resorts.

Foreigners wanting to buy in Switzerland will find themselves up against a law that restricts the amount of property bought by non-nationals in some regions. The popular resorts of St Moritz, Davos, Engleberg and Grindelwalde are closed to foreign buyers.

Simon Malster of Investors in Property says of those resorts open to foreigners, buyers should opt for Verbier or Villars. "Property in Switzerland tends to be more expensive than in France, with new property costing more than old. One advantage is that Swiss apartments tend to be bigger. A two-bedroom apartment in Switzerland is often the size of a three or four-bedroom apartment in France."

Mr Malster says a large two-bedroom, ground floor apartment in Verbier is currently selling for around £250,000, while a slightly smaller equivalent in Villars is on the market at £170,000. He describes prices in the French market as "more frothy", but says property in Switzerland is still rising at a comfortable 5% per year.

Check your insurance before you slope off

'Tis the season to book cheap flights to Geneva and Lyon to save money on skiing holidays. But the boom in low-cost airlines and unpackaged holidays has a downside, with many travellers failing to organise insurance for their trip.

Now a new scheme offers last-minute travellers an easy and relatively cheap way to pick up insurance at the airport. Insure and Go is launching "Scratch n Go" insurance through WHSmith.

Underwritten by TPU Travel and Personnel Underwriters, travellers can buy one of seven different scratch cards which vary in price from £15 to £100. Each card will clearly state what you the traveller will be covered for, based on the location you are flying to and whether you will be engaged in high-risk activities such as skiing.

A £30 card will cover you for three types of holiday insurance: either 10 days' insurance for a family holidaying in Europe; 10 days' worldwide cover for one adult or up to 10 days' ski cover for one adult in Europe. Insure and Go, who are behind the scratchcard scheme, also offer a kids go free policy - every adult insured can take three children with them free.

The cards are easy to use. You simply choose the one most suited to your destination. You pay for it at the checkout, where you'll be handed a pack which includes your policy details, emergency telephone numbers and claim information. You then need to activate the policy by calling the number on the card, or by using the internet.

For those people who rely on luck when travelling abroad as opposed to insurance, it's worth bearing in mind that if you are planning on going skiing or snowboarding this winter (and there are 700,000 Brits who hit the slopes every year), one in 50 will need medical attention at some point during their trip.

Research from the Foreign Office shows the the cost of medical care in Europe for a broken leg or wrist can be as much as £10,000. And if you are skiing in the United States, your bill would triple, to around £30,000.

Falls are the biggest cause of injuries, making up 75% of all accidents, with the young and crazy gang of 20 to 24-year-olds most at risk.

Insurance should not cost you an arm and a leg. And the table below shows how much you could save if you shop around in the more traditional sense. But if you have left it too late, you can always scratch n go at the airport.

Juliet Shedden

What you pay

Ski insurance for seven days in Europe per adult:

Flexicover £17.60

Club Direct £18.05

Insure and Go £21.40

Primary Direct £27.00

Post Office £34.00

Thomas Cook £37.25

Lunn Poly £39.99

· Quotes based on a heathly adult under the age of 50