Rhino Renters Insurance Review 2024 (Including Security Deposit Insurance)

Rhino is a revolutionary insurance agency that provides affordable renters insurance along with its security deposit insurance policies. This ensures you get full coverage on your rented space without having to pay the hefty upfront cash security deposit but instead a small monthly fee.


Based on a recent study, the average cost of renting a home in the US is $1,800 – with rates in some cities like San Francisco going up to $3,750 per month.

While paying for the rent could be a bit of a task, paying also for the cash security deposit is another – a standard practice, that requires tenants to pay a substantial amount upfront as insurance against potential damages or unpaid rent.


If you are more concerned about paying a security deposit which will be equal to the rent amount for one month, Rhino can help you find a way around this requirement.

Rhino renters insurance includes the basic renters policy, with rates highly personalized so you can only pay for what you need.

Here is all you should know about Rhino renters insurance, including how it works, costs, eligibility, and along with its security deposit insurance!


Rhino is available in 46 states, excluding Hawaii, Montana, North Dakota, and Wyoming. Rhino is promising to include these states in the future.

Also check our review of » Sure Renters Insurance

About Rhino Insurance

Founded in 2017 and headquartered in New York, Rhino is a licensed insurance agency that provides insurance and gives renters financial alternatives to afford the homes they want.

The company also includes renters insurance as an add-on to make the entire process simple and cheap for renters.

Rhino insurance differs from the standard renters policy that protects your belongings. Rhino is more dedicated to protecting your rental for your landlord from non-payment of rent and excessive damages, which is similar to a cash deposit.

How Rhino Insurance Works and Eligibility

According to Rhino “The average American has less than $400 saved for emergencies. Meanwhile, owners and operators are struggling because of an obsolete process that leads to lost time, protection gaps, and burn out.” Hence, making housing more affordable becomes the goal.

Rhino works by eliminating the huge security deposit that must be paid to your landlord for a small monthly installment typically starting at $4-$10.

To be eligible, you must be a renter living in a property that is owned by a Rhino Partner, and to get renters insurance, your landlord must be a partner with Rhino. There are no credit requirements to qualify for Rhino.

Rhino renters insurance coverage

Since landlords sometimes require tenants to purchase a policy with a minimum amount of renters liability insurance, you might want to include renters insurance to your Rhino security deposit insurance to enhance your protection.

Here are all four coverage types of coverage available on Rhino:

  • Personal property coverage: This includes coverage for your belongings like clothing, furniture, and electronics. The highest Rhino will pay for claims arising from personal property is $15,000.
  • Liability coverage: The maximum payout for this coverage is $100,000. This will sort out issues like damages caused by you to third-party properties or even injuries caused to other people.
  • Medical payments: If anyone in your home is injured, whether at fault or not, this coverage can help cushion part of the cost of the medical bills. The most Rhino will pay for this is $500.
  •  Additional Living Expenses: If your home becomes uninhabitable, this will pay for your temporary housing, meals, transportation, and other necessary living expenses that exceed the normal costs of living while your home undergoes repairs. You can claim $3,000 at most for this coverage.

Also check our review of » The Best Landlord Insurance In Florida

Cost of Rhino Renters Insurance

Rates for Rhino renters insurance start as low as $12.50 per month. However, how much your policy costs will depend on your credit score, location, and type of home.


Rhino does not openly advertise discounts either by bundling renters insurance with security deposit insurance or having a claims-free history.

rhino renters insurance reviews

While Rhino may still be a newcomer in the business, it has garnered lots of positive reviews from customers.

Rhino boasts of a 4.2-star rating on Trustpilot from over 1,500 reviews and has a 3.34 rating out of 5 from the BBB. The company is BBB accredited with an A+ rating.



  • Cheap alternative for cash security deposits. $4 a month for security deposit and $12.50 for renters insurance
  • Fast and easy sign-up
  • Flexible and personalized renters policy


  • Not currently available in the states of Hawaii, Montana, North Dakota, and Wyoming
  • Does not directly sell insurance policies
  • Some renters have reported paying more overtime than the cash security deposit which is even refundable

How to apply for Rhino renters insurance

You can only enroll for renters insurance if your homeowner is partnered with Rhino. If this is the case, you can proceed by asking your leasing team to send you an email invitation from the Rhino portal.

After receiving the mail, you can proceed with the application process where you will be asked a few questions to accurately tailor your quote.

Keep in mind that all renters are subject to the same screening criteria.

How to file a claim with Rhino Renters Insurance

Filing a claim with Rhino is pretty simple and quick. This can be done online. To proceed, do this:

  • Make ready any supporting documents to back up your claim. This includes photos, videos, and other concrete evidence like police reports.
  • After making the aforementioned ready, begin by visiting your renters dashboard online here, and tap the My Policies tab to file a claim. Alternatively, you can visit XCover to file a claim there.

It typically takes about 1-2 business days for claims to be reviewed by the Rhino claims team. You will be notified duly as the process goes on and should get reimbursed if your claim goes through.

Frequently Asked Questions (FAQS)

Who underwrites Rhino renters insurance?

Rhino acts as a licensed insurance agency – its policies are underwritten by XCover, a global insurance provider with offices in New York, San Francisco, São Paulo, Montevideo, Amsterdam, London, Singapore, and Sydney.

Is Rhino insurance legit?

Rhino insurance is a legit company and is backed by XCover a global insurtech. The company is BBB accredited with an A+ rating. This also includes many positive reviews from several review websites.

Is Rhino worth it?

For most people, Rhino might be worth it, particularly if you are worried about paying the lump sum cash security deposit and also keen on getting affordable renters insurance.

However, there have been complaints from individuals being charged excessive overtime fees.

Where can I get answers if I have issues concerning my claims or policy?

XCover underwrites Rhino renters insurance. If you need assistance with your claims or policy, feel free to contact their support team.

How to look for properties that partner with Rhino

To find a Rhino-supported property, contact the Rhino support team and provide some basic details like your zip code and their team will begin looking for a property for you.

If you intend moving into any city in New York, you can follow up here to find deposit-free listing properties.