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 Question Thank you! Oops! Related Contents If a Pipe Breaks Do you know what to do if a pipe breaks in your house? The ABC’s of Auto Insurance What kind of auto insurance should you have? Do you know? Protecting Those Who Matter Most The importance of life insurance, how it works, and how much coverage you need.