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 Forecast Life is as unpredictable as the weather. We’d love to help you prepare. Retiree Health Care Coverage Overseas Retirees traveling abroad need to know that their health insurance travels with them. Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.