What is a Loss? Loss[los]noun1.A Loss is an injury or damage that is covered by an insurance Policy. Losses can be partial, like when wind damages part of a roof, or total, as when an automobile is “totaled” in a collision. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content The Other Sure Thing Though we don’t like to think about it, all of us will make an exit sometime. Are you prepared? What is a Homeowner's Insurance Policy? Do you know what a Homeowner's Insurance Policy is? Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.