I've never lost a house because of a flood or hurricane or whatever, but I'm pretty sure that governments don't do make-whole reimbursements. Could be wrong..

That said, at least in Canada, I believe that federal, provincial and municipal governments share the burden of paying for restoration after a disaster. That is more or less what you suggest - there's a slight incentive to move away from Manitoba (for example), because they instituted a tax-hike to pay for their last flood. http://www.cbc.ca/news/canada/manitoba/story/2012/04/17/mb-b...