A third of Aussie drivers have confessed to breaking the speed limit in the past 12 months and risking hundreds of dollars in fines.
Older Aussies were the most likely to break the rules, the Compare the Market survey of 1,010 people found. Baby Boomers had the biggest lead foot (38 per cent), followed by Gen X (32 per cent), Millennials (28 per cent) and Gen Z (27 per cent).
Drivers can be slapped with hefty fines if they are caught speeding. For instance, in Queensland, drivers can cop a $287 fine and one demerit point for driving less than 11 km/h over the speed limit.
This goes up to a $1,653 fine, 8 demerit points and a six-month suspension if drivers get caught going more than 40 km/h over the speed limit.
Compare the Market’s general manager of general insurance, Adrian Taylor, said speeding could affect your wallet in more than one way.
“Racking up demerit points might also affect your car insurance because they show your insurance provider that you’re a reckless driver,” Taylor said.
“A speeding fine shows an insurance provider that you might be prone to speeding, and therefore have a higher chance of being involved in a car accident. The higher your likelihood of claiming on a policy, the more you could be risking a higher premium.”
Gen Z was the least likely age group to speed, but they were guilty of breaking other road rules. Zoomers were the most likely to stop in a no-stopping zone (14 per cent), park in a no-parking zone (10 per cent), drive with no headlights on (6 per cent), run a red light (5 per cent) and park in a disabled car park (2 per cent).
Taylor said younger drivers typically had to fork out more money for their car insurance.
“Younger drivers might pay more for their insurance than their elders because they don’t have as much driving experience, but premiums usually decrease after they turn 25,” he said.
“Statistically, a person is more than six times likely to crash while they’re in their early years of driving.”