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 Forecast Life is as unpredictable as the weather. We’d love to help you prepare. Test Your Life Insurance Knowledge How much do you know about one of the most important tools you have to help protect your and your family’s financial future? Protecting Those Who Matter Most The importance of life insurance, how it works, and how much coverage you need.