A new insurance policy was launched today to help drivers who lose their licence as a result of being caught speeding.

The FlashProtect policy aims to subsidise travel costs for drivers who have been disqualified.

The policy, which is being offered by online insurer protection-insurance.com, costs £50 a year, and pays drivers up to £6,000 towards alternative transport arrangements if they lose their licence.

There are currently around 4,500 speed cameras in the UK. Drivers generally get three points on their licence for a speeding offence and can be disqualified if they accumulate 12 points.

James King of protection-insurance.com said: "We all make mistakes; even responsible drivers can be caught out by a momentary lapse, or perhaps by being intimidated to speed by a tailgater.

"If you've already picked up a few points for, say, parking in the wrong place, then that first speeding offence caught on a speed camera could see you disqualified. Literally, one flash and you are banned.

"And without your own transport, how would you manage to carry out your job, or do the simple day-to-day things like shopping and running the kids to school without running up huge taxi bills or waiting for buses?"

He added that the group did not condone dangerous driving and the policy did not cover people who were convicted of dangerous or reckless driving, drink driving or driving under the influence of drugs.

Drivers can only take the policy out if they have fewer than six points on their licence, and it only pays out if they are disqualified as a result of being caught by speed traps.

If a driver is banned they keep their receipts from taxis, trains and buses, and are reimbursed by the insurer at the end of the ban. They can claim a maximum of £500 a month.