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Speed camera signs dropped: How it could hit you twice

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Drivers don't just face extra fines. They're also at risk of increased insurance premiums and license suspensions.

Drivers are being warned about potential fines after the NSW government announced plans to scrap signs that signal a mobile speed camera ahead.

Over the next 12 months, warning signs will be phased out for mobile cameras but signs for permanent cameras will remain in place.

In NSW, drivers face fines of up to $3,762 for speeding, although that's only for those driving at least 45kmph over the limit. For drivers just 10kmph over the limit, the standard fine is $360. With state borders opening up and many families expected to drive over the Christmas break, the changes could also impact travellers from Victoria, Queensland and South Australia.

However, hefty fines aren't the only financial blow-back from a speeding ticket. Demerit points and licence suspensions can also push the price of car insurance up.

Paying the price for speeding

Most insurance companies adjust their premiums according to how many demerit points a driver has - the more demerit points, the higher the premium.

According to Youi, this is because demerit points are a good indication of a driver's safety and responsibility behind the wheel. More demerit points mean you're at higher risk of an incident on the road, which makes you more costly to insure.

It's no good lying either. If an insurance company asks you to disclose how many demerit points you have, you're bound by the duty of disclosure to answer honestly. Lie, and the company could later refuse to pay a claim or hold you accountable for the amount you owe.

The long-term cost of license suspensions

A license suspension is a quick way to push the price of your car insurance premium up. That's because you're then considered a high-risk driver - but it's not that hard to achieve.

In NSW, once you reach 12 demerit points, your license is suspended. However, if you're still a learner or P1 driver, any speeding offence will result in an automatic suspension.

Don't worry though, demerit points don't last forever. Generally, they only apply for three years from the date of the offence. Once expired, offences should be dropped from your driving record but it's worth double checking before you apply for insurance.

In the meantime, if you are battling against steep insurance premiums, the best thing you can do to reduce the price is compare policies online. You might be able to shave a few hundred dollars off the annual cost.

Compare car insurance from Finder partners

1 - 8 of 43
Name Product Roadside assistance Accidental damage Storm Choice of repairer Agreed or Market Value
Youi Comprehensive
Optional
Agreed or Market
Finder's summary: The 2023 winner of our Best Features Car Insurance award. Plus, it's one of the only insurers to automatically include roadside assistance.

Who it might be good for: Those who want good customer service with lots of inclusions.
Bingle Comprehensive
Market
Finder's summary: Our data shows it’s the cheapest comprehensive policy. It just covers the basics such as damage to your car, theft and storms – it doesn’t go in for add-ons and extras.

Who it might be good for: Those wanting a low-cost, no-frills policy.
Budget Direct Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: The 2024 winner of our Best Value Car Insurance award. It's cheaper than most, plus you can lower costs by adding age restrictions.

⭐ Current offer: 15% off your first year's premium when you take out a policy online. T&Cs apply.

Who it might be good for: Anyone who wants a good value policy.
Qantas Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: You need car insurance so why not get one that lets you earn Qantas Points? It's good value too (it's underwritten by the same insurer as Budget Direct).

⭐ Current offer: Earn up to 30,000 Qantas Points with every car insured by 30 September. Plus save 15% on your 1st year’s premium when you purchase online. T&Cs apply.

Who it might be good for: People who want more bang for their buck with Qantas Points.
Australia Post Comprehensive
Optional
Agreed or Market
Finder's summary: Covers a little more than other insurers. You don’t need to pay an excess for windscreen repairs and cover applies to anyone who uses your car.

⭐ Current offer: Get $75 off your first year's comprehensive car insurance premium when you buy online. T&Cs apply.

Who it might be good for: Multiple people using one car.
ROLLiN' Comprehensive
Agreed
Finder's summary: One of the most cost-effective insurers for under 25s, according to Finder research, with no aged-based excess.

Who it might be good for: Young drivers looking to keep costs down and anyone who’d like to get more flexibility from their car insurance.
QBE Comprehensive
Green Company
QBE Comprehensive
Optional
Agreed or Market
Finder's summary: Our best-rated Car Insurer for Customer Satisfaction in 2021/2022 and Green Insurer for the last 3 years.

⭐ Current offer: Save $75 when you purchase a new comprehensive policy online. T&Cs apply.

Who it might be good for: Those who want a trustworthy insurer and more cover than other brands, such as 3-year new car replacement (e.g. they'll give you money for a new car for up to 3 years if yours is written off).
Kogan Comprehensive
Optional
Agreed or Market
Finder's summary: Kogan comes with all the perks that most comprehensive car insurance policies include, but you'll also be entitled to some benefits from its online store. This usually comes in the form of a gift voucher or discount if you buy online.

⭐ Current offer: Get $80 off first year premiums when you purchase Kogan Comprehensive Car Insurance online + $10 monthly kogan.com credit. T&Cs apply.

Who it might be good for: Kogan shoppers and those after a good range of policy options.
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This article was updated on 30 November 2020 to note the opening up of state borders.

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