I found Code Templates to be very useful, especially this one (for HTML):
<${tag}>${cursor}${tag}>
The abbreviation is "tt", and it can also surround any text with custom tag, when called by the code template menu.
<${param_name default="tag"}${cursor}>
${selection}
${param_name default="tag"}>
This one will surround anything with any tag. Select something, then Alt+F3, then just select this template from the menu. After that type the tag you want, e.g. "div".