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 Snapshots Your life is marked by images. Prepare for the unexpected, so you can keep those pictures going. Gun Ownership and Your Homeowners Policy Gun owners need to make sure that their homeowners policy covers the full value of their firearm(s) as personal liability. Protecting Those Who Matter Most The importance of life insurance, how it works, and how much coverage you need.