Research reveals that liberals and conservatives in the United States diverge about their beliefs regarding climate change. We show empirically that political affiliation also matters with respect to climate related risks such as flooding from hurricanes. Our study is based on a survey conducted 6 months after Superstorm Sandy in 2012 of over 1,000 residents in flood-prone areas in New York City. Democrats’ perception of their probability of suffering flood damage is significantly higher than Republicans’ and they are also more likely to invest in individual flood protection measures. However, 50% more Democrats than Republicans in our sample expect to receive federal disaster relief after a major flood. These results highlight the importance of taking into account value-based considerations in designing disaster risk management policies.