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 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? When to Self-Insure Choosing to bear the financial burden of an adverse event is called self-insuring. Do you know what that entails? Protecting Those Who Matter Most The importance of life insurance, how it works, and how much coverage you need.