Rhino insures each home for the property owner in case of damages and lost rent that might occur. Renters pay Rhino a small monthly fee instead of paying a security deposit.
If a loss is incurred by the property during the course of a lease, the property can file a claim. If the claim is approved, after a thorough investigation, Rhino would pay the property the amount lost and the renter would reimburse Rhino.
Is Rhino renter’s insurance?
No, Rhino is security deposit insurance. Rhino offers no protection for a renter’s personal belongings. Rhino protects the apartment, just like a security deposit.