Yes a Cunning foxy plan indeed, but read the policy wordings carefully and you may have to shop around - my current UK policy states up to 90 days in the year full cover as in the UK (comprehensive), but no single trip can exceed 30 days. Also states the minimum required by EU law in whichever country you are in, or travelling through for the whole period of policy.
I suppose you could put them all back to back or even have one day between each period of 30 days, but in the event of any claim I am sure they will try and find away out as always.
Potentially Brexit as it stands with “No Deal”, will make it all irrelevant. After 90 days in the EU you may have to either leave or get a resident permit/visa.
My Australian mate fell foul of the rules a few years back by going to Switzerland for a couple of weeks and returned to France, thinking he would reset the clock - no way he was told in no uncertain terms 
Be interesting to see how the EU propose to enforce it though now there are no boarder checkpoints anymore.
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