Claims

Claims Best Practices

Last updated · — min read

Binding a Policy

Before a renter is eligible for a Rhino policy, property managers must screen each resident through income validation and a credit check. Documentation of this screening may be requested during the claims process. Note that Rhino also screens each applicant independently — Rhino's screening is separate from the property manager's decision to extend a lease offer.

If a resident has an outstanding ledger balance, it must be resolved directly with the renter before a Rhino policy can be bound. The property management company is responsible for verifying a zero balance at the time the invitation is sent.

Filing a Claim

Claims may be filed at any time during an active policy and within 60 days of the policy’s expiration. Loss of rent and excessive wear and tear claims must be filed separately. 

Note: Rent is only considered late after 30 days. Loss of rent claims submitted within the 30-day window are subject to a waiting period — unless the resident has clearly vacated, in which case the claim will be considered timely and eligible for review.

Required Documentation

Loss of Rent:

  • Signed lease agreement (dates must align with the policy)
  • Full rent ledger, including all charges, payments, and a running balance beginning on or before the move-in date

Excessive Wear and Tear:

  • Signed lease agreement
  • Full rent ledger
  • Photos of damages (taken before repairs) and invoices (after repairs)

Withdrawn Claims

If a claim is withdrawn — either by Rhino or accidentally by the property manager — the property manager should reply to the original claim email to request further review. Do not submit a new or duplicate claim. All follow-up must be handled under the original claim file.

Coverage Details

  • Rent must be 10 days past due before a loss of rent claim can be approved.
  • Property managers are expected to take appropriate steps to evict non-paying tenants. Failure to follow standard eviction procedures may affect coverage, as Rhino reserves the right to require evidence of good faith efforts to mitigate losses.
  • Coverage decisions may vary by jurisdiction. Each claim is reviewed individually based on its merits, the bond form, the lease agreement, and applicable local and state laws.

Bond Coverage Extension

In certain circumstances, coverage may extend up to 60 days after a policy's expiration.

If the resident renewed their lease but did not renew their Rhino policy:

  • Request the resident to renew their policy through the Rhino portal.
  • If they decline, consider collecting a cash security deposit.
  • If neither is possible and the resident is not in default, you may have coverage under Rhino's Bond Coverage Extension. Claims must be filed within 60 days of the original policy expiration.

If the resident is holding over with no active lease or Rhino policy:

  • Contact the resident to determine if a new lease and policy are appropriate.
  • If the resident declines, follow your organization's holdover procedures.
  • If the tenant remains in bad standing, you may have coverage under Rhino's Tenant Holdover provision. Claims must be filed within 60 days of the original policy expiration.

Returning Claim Payments

If a resident repays you for a loss that Rhino previously covered, you are required to reimburse Rhino within 30 days of receiving that payment. Returned payments will be added back to the available coverage limit for future claims.

When returning payment, please include the corresponding claim number or policy number in the memo to ensure the payment is reconciled properly and the coverage limit is restored.

Payments can be returned via check or ACH transfer. Mail checks to:

Rhino Labs P.O. Box 736819 Dallas, TX 75373-6819

For ACH instructions, contact your account representative.

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