How do you pay on Rhino?
Rhino is security deposit insurance. Instead of paying the security deposit amount in cash at the time of the lease — renters pay a monthly fee to Rhino, averaging $5-10 a month — to cover the security deposit.
What is a rhino insurance policy?
Rhino is security deposit insurance that replaces the need for a traditional security deposit. Instead of a large upfront cash security deposit, renters pay Rhino a small monthly fee, and Rhino insures each home for the property owner in case of damages and lost rent that might occur.
Is Rhino an insurance company?
Rhino is a licensed insurance agency that transacts insurance and gives renters financial alternatives to afford the homes they want. It is a smart alternative to security deposits and acts as a general agent for one or more insurance carriers. Rhino was founded in 2017 and is headquartered in New York, New York.
What is Rhino deposit insurance?
Rhino's security deposit insurance acts as a direct substitution for a cash security deposit. Instead of a large upfront cash deposit, renters pay Rhino a small monthly fee that can be as low as $4 per month, and Rhino insures the property owner for damages that might occur and lost rent.
Does Rhino save you money?
What does Rhino cover? When renters enroll with Rhino, we protect their unit the way a security deposit does. Renters are still responsible in the case of excessive damage or unpaid rent.
Can I cancel Rhino?
Rhino policies can be canceled at any point during the life of the policy. If the coverage is no longer needed, Rhino can cancel your policy and issue any applicable refunds.
How does a rhino work?
Rhino is security deposit insurance. Instead of paying the security deposit amount in cash at the time of the lease — renters pay a monthly fee to Rhino, averaging $5-10 a month — to cover the security deposit. Using Rhino frees up renters' cash so that they can afford renters insurance and other moving expenses.