There are two types of payment schedules for a renters insurance policy from Rhino: monthly and in-full.
If you choose to pay in full, the entire cost of the renters insurance policy will be drawn from your card upon add-on. There will be no recurring charges.
If you choose monthly payments, you will be charged immediately when you complete enrollment with Rhino or add renters insurance to your existing policy. You will then be charged automatically 25 days from the original policy purchase date on the card used to complete enrollment. This will be the date you will be charged every month thereafter.
For example, if you purchase renters insurance on March 13, the first charge will happen immediately. The recurring auto-charge will be initiated on the 7th of each following month. If any payment issues come up, the renter will have between the charge date (the 7th), and the purchase date (the 13th) to resolve it. If payment is not resolved by the purchase date, the policy will expire.
If you add renters insurance at enrollment:
- Add renters insurance at check-out to purchase both security deposit insurance and renters insurance.
- If you opt to pay for security deposit insurance monthly, then you will automatically be offered renters insurance at a monthly rate.
- If you opt to pay for security deposit insurance in full, then you have the option to pay for renters insurance in full or at a monthly rate.
If you add renters insurance to your existing Rhino security deposit insurance policy:
- Visit your Renter Dashboard and click “Get covered Now” under “Need renters insurance?”
- Get your personalized quote by answering a couple of questions.
- You have the option to purchase renters insurance at a monthly rate or in full.
If you opt to pay for your renters insurance monthly, your monthly rate includes a $1 fee.