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? Address Thank you! Oops! Related Contents Coaches Coaches have helped you your whole life, in ways big and small. We’d like to be one of them. Did You Know This Fact About Parking in a Garage? Save money by parking your car in your garage. Protecting Those Who Matter Most The importance of life insurance, how it works, and how much coverage you need.