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. Keeping Summer Safe: Pool and Spa Safety Tips Each year hundreds of children die or are injured in pool accidents. By taking seven steps, you can keep your pool safe. Protecting Those Who Matter Most The importance of life insurance, how it works, and how much coverage you need.