Methods are provided that include a method of reducing fluid loss in a subterranean formation comprising placing a lost circulation composition comprising a base fluid and a swellable elastomer in at least a portion of a subterranean formation comprising a lost circulation zone; allowing the swellable elastomer to at least partially swell upon contact with a fluid; and allowing the lost circulation composition to at least partially reduce the loss of fluid to the subterranean formation. Additional methods are also provided.