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 The Other Sure Thing Though we don’t like to think about it, all of us will make an exit sometime. Are you prepared? Insurance Needs Assessment: Married With Children When you’re married and have children, insurance needs will be different. Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.