Natural hazards, an increasingly important phenomenon, have a direct impact at regional and household level. The growing incidence and persistence of natural events are strongly linked to increasing vulnerability of households and communities in developing countries. Previous socioeconomic vulnerabilities may exacerbate the impact of a specific event, making more difficult the process of recovery. Using a five wave panel data set with information on natural disasters we explore the relationship between natural hazard and poverty in Peruvian context. We find that the probability of being "Always Poor" is 21 times the probability of being "Never poor", given that the household experienced a natural disaster. In addition, natural disasters have a negative impact over monthly per capita consumption growth. Furthermore, this negative effect is higher for households located at the bottom of the income distribution.