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 If a Pipe Breaks Learn what to do when a pipe bursts with this helpful video flooded with smart tips. Teen Drinking and Your Liability Drinking may be a “rite of passage” for teens, but when it occurs in your home you may be held responsible for their actions. Protecting Those Who Matter Most The importance of life insurance, how it works, and how much coverage you need.