Liberty Insurance are to offer rebates of 15% off their motor insurance premiums - but customers have to wait until June to claim them.
The company will offer a 15% rebate for two months, in response to the outbreak of Covid-19, which has left nearly 600,000 people receiving financial assistance from the government as bars restaurants and factories around the country are closed as the nation remains in lockdown.
“We recognise that these are exceptional circumstances and now is a challenging time for many of our customers," said Tom McIlduff, CEO of Liberty Insurance.
"We also recognise that risks on Irish roads are reduced in light of current restrictions.”
Customers can choose between claiming the rebate or donating it to a charity fighting Coronavirus.
However, the rebate must be applied for on Liberty Insurance's website, and cannot be requested until June 8.
Other insurance companies have also committed to giving money back to customers.
Insurance Ireland says rebate offered by Allianz, AXA, FBD, RSA and Zurich will depend on their claims experience so far.
Minister for Finance Paschal Donohoe described the move as an "important step by the sector"