Lawn Gnome Theft Insurance

Definition

• An insurance policy that covers any losses due to the theft of a lawn gnome. Lawn gnome theft insurance policies will cover hostage negotiation teams, ransom payments, and repair costs. In the event that the gnome cannot be recovered, the policy will also cover grief counselling and/or replacement costs. Not to be confused with a "lawn gnome fidelity bond," which covers thefts perpetrated by lawn gnomes.

Relevant Locations
Backyard

Established Year
1947

Notes
Also known as Garden Gnome Theft Insurance (GGTI).

Synonyms
lawn ornament theft insurance, garden gnome insurance

Acronyms
LGTI

Related Terms and Acronyms

• Alien Abduction Insurance (AAI) — Acronym, Cosmos,
  • Insurance that covers costs resulting from alien abductions.
  ➥ An extra-terrestrial abduction policy.
• Homeowners Insurance — Definition,
  • A policy that includes hazard coverage, covering loss or damage to property and/or assets located within, as well as coverage for personal liability and theft.
• Lawn Gnome Fidelity Bond (LGFB) — Acronym, Middle Earth / Underground,
  • Insurance that covers losses due to the actions of dishonest lawn gnomes.
  ➥ The LGFB acronym is quite often incorrectly mislabelled as a Lost Gnome from Backyard and Looks Good From Behind.
• Named Perils Insurance Policy — Definition,
  • Insurance that only provides coverage in the event of a loss from a peril specifically named in the insurance policy.