Incurred Loss

The total of what’s been paid on claims plus what’s still reserved for them. The fuller picture of a period’s losses, not just cash out the door.

This is a friendly general explanation, not legal or policy language. Exact coverage depends on your policy, carrier, and state. 🤝

Written and reviewed by the We Insure Things team — licensed independent insurance agents. Last reviewed July 23, 2026. Questions? Ask a licensed agent.