Security Deposit Alternative (SDA)

Renewing a policy (SDA & RG)

Last updated · — min read

Renewal Notifications 

  • Residents receive email reminders 90, 60, and 31 days before their lease end date.

Renewal Eligibility 

  • Residents must be up to date on premium payments (if paying monthly).
  • Any previously filed claims must be paid in full.

Manual Renewal 

  • Renters can manually renew their coverage up to 90 days before the lease end date and have until the lease end date to complete it.

Automatic Renewal 

  • If the resident does not manually renew, Rhino + Jetty will attempt to automatically renew beginning 15 days before the lease end date.
  • If the initial payment fails, additional attempts will be made, with the final attempt occurring the day before the lease end date.

Payment/Pricing

  • Payment is required for the policy to renew. If payment is unsuccessful, the resident will be notified.
  • Billing is handled directly between Rhino + Jetty and the resident — payment details cannot be shared with the property.
  • Renewal pricing may change over time as our pricing model evolves and incorporates additional factors. In addition to individual risk factors like credit score, income, rent, and requested coverage amount, renewal pricing may also reflect broader market conditions and the overall risk profile of the property and landlord — similar to other insurance products in the market.
  • If this is a Renter Guarantee policy, renters do not pay a refundable reserve component at renewal, but will need to pay annual premium again.
    • At renewal, the residents' refundable reserve must be whole, meaning if they have a refundable reserve requirement of $1,000, but we paid out a $500 claim with part of that reserve, they need to pay back the $500 so their refundable reserve is whole before a renewal is offered. 

Canceling a Renewal 

  • Property managers cannot cancel an upcoming renewal on behalf of a resident.
  • The resident must log in to their Rhino + Jetty portal to cancel, or contact support via the form at sayrhino.com. 

Post-Renewal Edits 

  • Edits cannot be made until after the policy has renewed. 
  • Renewal policies carry over the existing address, rent amount, and coverage amount for a 12-month term.
  • Once renewed, property managers have 14 days from the renewal date to submit any edits.

Reinstatement 

  • If a resident is unable to renew by the lease end date, they have up to 60 days after expiration to reinstate coverage. 
  • After 60 days, the policy cannot be reinstated and the resident would need to apply for a new policy if eligible.
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