Evidence shows that disaster experience and risk perception of the people has great impact on flood preparedness and mitigation. Awareness of and preparedness for disasters by the communities are essential for improved disaster management. In recent decade, Pakistan has had major flood disasters which greatly affect vulnerable communities. This paper examines the communities’ experience of disaster and their perceptions on disaster risks in order to gauge their preparedness. Questionnaires were administered to 385 respondents using convenience sampling approach in seven flood prone districts of Pakistan. The results showed that the communities are moderately aware of flood risk. The study also indicates that there is positive correlation between risk perception and experience. For disaster preparedness, education indicates significant level of influence on risk perception. The paper concludes that effective communication of information and knowledge is critical to assist vulnerable communities as part of the whole disaster management strategy.