I recently had a weekend break in Europe - booked 6 months ago. Our return flight from France to London was cancelled due to a French air traffic control strike and all of us needed to get back to UK for family and work commitments.
BA were hopeless. Spent an hour on the phone and the only solutions they could come up with got us back to the UK almost 24 hours too late, with an overnight in Spain. We therefore booked an EasyJet flight which left earlier the same day - effectively losing a day of our weekend break.
BA has refunded the cancelled flight, but will not cover the cost of the EasyJet flight. I have spoken to my insurance company, and they won't pay up either.
This isn't about a huge amount of money - £60ish. However, I am pretty hacked off both with BA for not getting us home and also with the insurance company who are saying this is not their responsibility.
Check your policies carefully. If we had been somewhere more exotic, and in the same situation, we could have been seriously out of pocket. If travel insurance (reputable company, annual cover) doesn't cover you for getting you home when a flight is cancelled, what else are they excluding?