As the cost of renting and moving has risen, security deposit insurance has proven to be the solution that renters prefer to reduce the upfront costs of renting a home. Since many of these programs are optional for renters it gives them even more power to decide where they want their money to go. That choice is key. Key to their interest and key to getting maximum protection with Rhino.
At Rhino we talk a lot about a renter-focused mindset. This has four key pillars.
Rhino doesn’t give everyone at a property the same price or set prices based on a percentage of rent. Every eligible renter is given a personalized price based on factors like income, employment status, and their credit score (which is pulled using a soft check that has no impact on their credit). Our approach ensures everyone is given the lowest possible price for their policy, while giving you the coverage you need.
Rhino doesn’t hide costs in rent payments, monthly surcharges, or make it so renters must manually opt-out of policies. We are transparent about our security deposit insurance and make it clear to renters that a Rhino policy allows them to forgo a security deposit, but they will be held financially responsible for any approved claims made against them—the same as if they had a cash deposit. Our transparency gives renters the information they need to feel confident in making the (best) decision to go with Rhino
We don't preset coverage amounts for our partners. Our partners know their properties the best and we trust them to set individualized coverage amounts that work for their needs and their community’s success. This custom policy amount is factored into the renter’s policy price and makes sure they’re only paying for their individual coverage limit.
Our experts are available to renters to ask questions about their policies whenever they need us. Renters can pick up the phone and give us a call, send us an email, or chat with us live. We handle all of their questions so that property teams can work on the things that matter most to them.
Our focus to ensuring renters have the best possible experience with Rhino is essential to making our partners successful. Creating a program renters want to use helps our partners maximize their results, both reducing bad debt and increasing occupancy.
The numbers show this commitment is working. Renters have decided to eliminate over 500 million dollars in upfront costs with Rhino. 80% of renters who receive a policy quote voluntarily opt-in to using Rhino and they’ve given us a 4.7/5.0 rating on TrustPilot based on 800+ reviews.
The success seen by renters is creating successful programs for our 2 million+ homes and we’re happy to see it.
Interested in offering a security deposit insurance program at your properties that renters continue to choose time and time again? Talk to the Rhino team to learn more.