In an Australian first, National Underwriting Agencies subsidiary Ezy Insure has claimed an Australian "first" with a new policy covering drivers for alternative transport if their licence is suspended.

The Loss of Licence Assist policy only covers motorists for "minor" speeding offences and is intended to provide insurance for drivers who have mistakenly strayed over the speed limit.

Drivers are covered for $1000 a month for up to three months for public transport or hire car costs.

"We do not condone speeding and we are certainly not encouraging you to speed," a statement on the company's website says.

"However, with the variety of different speed limits and enforcement cameras on our ever-expanding road network, we can all become confused."