When the President declares a major disaster that includes your county, you may be eligible for limited assistance from FEMA for eligible home repairs or replacement to one’s primary residence. Recent amendments (2006) to the Robert T. Stafford Disaster Relief and Emergency Assistance Act (as amended) limit this assistance to a maximum $28,200 in federal fiscal year 2007. The amount is adjusted each year based on the consumer price index for all consumer goods.
Note: If your mortgaged and uninsured home is destroyed, the mortgage company will still demand payments and are legally entitled to do so! If nothing else, this should convince you of the value of having the appropriate insurance coverage.

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