We study the effect of extreme precipitation events on self-reported measures of well-being. In order to do so we combine data from the United Kingdom (UK) Household Longitudinal Study with precipitation data, collected by the UK Centre for Ecology and Hydrology and study whether extreme rainfall events have a significant impact on happiness and life satisfaction. While we find no significant impact of rainfall measures on happiness, we detect a significantly negative effect on life satisfaction even when including numerous control variables, which capture the direct impact of disaster events. We thus find evidence in favour of the hypothesis that the mere risk of being confronted by natural disasters decreases life satisfaction.