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 Coaches Coaches have helped you your whole life, in ways big and small. We’d like to be one of them. Term vs. Permanent Life Insurance When considering life insurance, it's important to understand your options. Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.