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 Extended Care: A Patchwork of Possibilities What is your plan for health care during retirement? Keeping Summer Safe: Pool and Spa Safety Tips Each year hundreds of children die or are injured in pool accidents. By taking seven steps, you can keep your pool safe. Combine Your Policies and Save Some things just make perfect sense in pairs.