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 If a Tree Falls This handy video helps you stay prepared in case a fallen tree has damaged your house. Understanding Homeowner’s Insurance Purchasing homeowners insurance is critical for protecting your home. Protecting Those Who Matter Most The importance of life insurance, how it works, and how much coverage you need.