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 Coaches Coaches have helped you your whole life, in ways big and small. We’d like to be one of them. When Does Your Personal Car Become a Commercial Vehicle? At what point can you call a personal vehicle commercial? Assess Your Life Insurance Needs This calculator estimates how much life insurance you would need to meet your family's needs if you were to die prematurely.