How Much Does Jeonse Deposit Insurance Cost in 2026?
Jeonse deposit insurance (전세보증보험) protects tenants if the landlord defaults on returning the jeonse deposit. This guide explains the costs and coverage differences between HUG, SGI Seoul, and private insurance providers.
Key Finding
HUG offers the best coverage at ~0.128%/year for general applicants, with max coverage of ₩500M. SGI Seoul covers up to ₩200M at ~0.115%/year.
HUG vs SGI vs Private — Which One Should Expats Choose?
HUG (한국주택보증) is the most popular choice with the highest coverage limit (₩500M) and competitive rates. SGI Seoul offers lower limits (₩200M) but faster processing. Private insurance provides more flexible terms but may have stricter eligibility for foreigners.
| Provider | Max Coverage | Annual Rate (General) | Annual Rate (Somin) |
|---|---|---|---|
| HUG | ₩500M | 0.128% | 0.085% |
| SGI Seoul | ₩200M | 0.115% | 0.080% |
| Private | Varies | 0.10-0.15% | Varies |
What Happens When Your Landlord Defaults on the Deposit?
If your landlord fails to return the jeonse deposit, you can file a claim with your insurance provider. The insurance company will pay up to the coverage limit, then pursue reimbursement from the landlord. This protection is especially valuable for expats who may have limited legal resources to pursue defaults.
Documents Needed for Foreigner Applicants
Foreign applicants typically need:
- Alien Registration Card (외국인등록증)
- Lease contract (임대차계약서)
- Jeonse deposit proof (보증금 영수증)
- Application form (보험가입신청서)
- Income verification (소득증빙서류) - for somin classification
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