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Security Deposit Insurance
Jeonse, Korea’s lump-sum security deposit system, requires tenants to pay up to 70% of a property’s value upfront. Launched on November 3, 2025, Foreigner Home Security Deposit Insurance keeps that money safe—even if the landlord defaults or a fraudulent listing occurs.
- Dedicated foreigner support team guiding your application
- Coverage backed by trusted Korean guarantee institutions
- Multilingual legal and claims assistance
- Premiums typically range from $270 to $920 USD per lease depending on deposit size
Why security deposit insurance matters
Foreigners can face language barriers, unclear ownership records, and unexpected landlord debt. Insurance keeps your security deposit safe until the day you move out.
Guarantee your refund
If the landlord refuses or is unable to return the deposit, the insurer reimburses you directly and handles recovery from the owner.
Screen risky contracts
We verify ownership documents, outstanding mortgages, and legal filings before you sign, reducing exposure to “ghost” or double-leased properties.
Reduce legal complexity
Our bilingual specialists explain security deposit (jeonse) clauses, tenant rights, and potential penalties so you understand every stage of the process.
Quick guide: What is the Korean security deposit (jeonse)?
Use these checkpoints to understand the structure and why an insurance-backed security deposit is critical for foreigners.
Lump-sum deposit replaces monthly rent
Instead of paying monthly rent, you provide a large lump-sum deposit for the lease term (commonly 2 years). The landlord invests this money and returns it at contract end.
Ownership must be confirmed
You should review the certified registration and check for existing liens. Insurance applications require us to confirm these documents on your behalf.
Priority rights protect your deposit
Registering a fixed-date stamp and moving in quickly establishes legal priority. Insurance complements this by paying out even if priority rights are contested.
Coverage built for Korean security-deposit risk scenarios
The guarantee focuses on scenarios foreigners worry about most: landlord default, fraudulent activity, and legal obstacles around security deposits.
Deposit return guarantee
Reimburses the full security deposit (jeonse) if the landlord cannot repay at lease end because of bankruptcy, refinancing, or refusal.
- Applies after legal notice periods elapse
- Covers partial returns when the landlord only pays a portion
Fraud and double-contract protection
Activates if the property was sold, re-leased, or mortgaged without your knowledge, causing loss of priority claims over your security deposit.
- Investigative support to gather proof and file police reports
- Compensation even when the property is auctioned
Legal defence and translation
Provides legal consultation, interpreter services, and document preparation to navigate court filings or mediation related to your security deposit.
- Covers certified translations for key documents
- Access to vetted law firms experienced with foreigners
Interim housing assistance
If you must vacate while reclaiming the deposit, receive financial support for temporary housing and moving fees.
- Daily allowance for short-term accommodation
- Reimbursement for professional movers and storage
Specialised support for foreign tenants
We pair you with advisors who understand security deposit (jeonse) requirements, immigration status, and international payment workflows.
Pre-contract due diligence
Review ownership, identify unpaid taxes, and assess the landlord’s debt profile before signing.
Document preparation & submissions
We compile application forms, notarised IDs, and proof of funds, submitting them directly to the insurer.
Ongoing monitoring & renewal
Track ownership changes during your lease and assist with extensions, early move-outs, or unit changes.
Launched on November 3, 2025, Foreigner Home partners with leading guarantee associations to offer fast-track applications for E-series visas, D-series students, and global professionals.
How the security deposit insurance process works
Follow these steps to activate protection before you transfer your funds.
1. Share your draft contract
Provide property documents, deposit amount, and personal identification. We run compliance checks within 24 hours.
2. Receive eligibility confirmation
We share insurer options, premium amounts, and any required documents such as employment or bank statements.
3. Submit application & pay premium
Complete the application with bilingual assistance. Premiums can be paid via Korean bank transfer or supported international remittance.
4. Get certificate & move in confidently
Receive the guarantee certificate before your deposit is wired. We remain on call for move-in, registration, and potential claims.
Security deposit insurance FAQ
Common questions from foreigners navigating Korean security deposits (jeonse) for the first time.
Is security deposit insurance mandatory?
It is not legally required but is strongly recommended, especially if the property has existing loans. Many landlords welcome insured tenants because it demonstrates financial reliability and protects the jeonse deposit.
How much does the premium cost?
Premiums average 0.154–0.192% of the deposit amount, depending on the landlord’s credit and property debt ratio. We provide exact quotes after reviewing the registration.
Can I apply with a foreign passport and no Korean credit history?
Yes. You will need identification, visa details, and proof of funds or employment. We help collect any additional documents the insurer requests for the security deposit guarantee.
What happens if I move out early?
Inform us as soon as you discuss termination with the landlord. We coordinate with the insurer to adjust coverage, ensuring the deposit refund timeline is still protected.
How quickly are claims paid?
Once required documents are submitted, approved claims typically pay out within 30 days. We stay involved to track progress and push for expedited handling when possible.
Launch offer: secure your security deposit with bilingual experts
Coordinate a consultation before transferring funds so we can verify documents, file insurance, and keep your savings protected. Typical premiums range from $270 to $920 USD for deposits between KRW 150 million and KRW 400 million.
