My analysis is based on months of research which I conducted 3 years ago for a business plan for my 3rd startup company. I adopted the original research to apply to the FSP states so we can analyse the natural disaster risks present in each state.
Tornadoes Where: The same 13 States of Tornado Alley.
FSP States Affected: All of North Dakota and South Dakota. Far Eastern edges of Montana and Wyoming.
When: Tornado risk peaks during May and June.
Hail Where: The High Plains: Between North Dakota, Texas, The Rocky Mountains, and 95W Longitude. (The same 13 States of Tornado Alley.)
FSP States Affected: All of North Dakota and South Dakota. Far Eastern edges of Montana and Wyoming.
When: Hail risk peaks during April, May, and June. Slightly earlier than tornado season.
Wild Fires Where: California, the Northern Rockies, and the East and West Great Basin.
FSP States Affected: All wooded and mountainous areas of Montana and Wyoming. Southern Idaho.
When: Wild fire risk peaks twice each year, once from March through May, and again from June to July.
Flash Floods Where: Florida, California, Louisiana, Texas, and New Jersey.
FSP States Affected: None.
When: Flash flood risk peaks during May, June, and July.
High Winds Where: The Eastern U.S., specifically NY and FL.
FSP States Affected: Delaware, New Hampshire, and Vermont. Wind damage is rare in these states.
When: High wind risk peaks during June and July.
Severe Winter Storms Where: Tornado Alley and the Northern States.
FSP States Affected: Alaska, Idaho, Maine, Montana, New Hampshire, North Dakota, South Dakota, Vermont, and Wyoming.
When: Peaks from December through February.
Severe Thunderstorms Where: Southeastern Quadrant of the U.S. and Tornado Alley.
FSP States Affected: All of North Dakota and South Dakota. Far Eastern edges of Montana and Wyoming.
When: Peaks from April through June.
Hurricanes Where: Atlantic and East Pacific Basins.
FSP States Affected: Delaware, New Hampshire, and Maine. Only two hurricanes have ever hit these states in recorded history, one in 1938 and one in 1991.
When: Peaks from August through October.
Earthquakes Where: West Coast, Alaska, and the Mississippi Valley.
FSP States Affected: High-Risk: Alaska, Idaho, Montana, Wyoming.
Low-Risk: Delaware, Maine, New Hampshire, Vermont.
When: Not seasonal.
Sources:http://www.spc.noaa.gov/climo/torn/monthlytornstats.htmlhttp://www.usfa.fema.gov/pdf/fius11th.pdfhttp://www.usfa.fema.gov/pdf/fius9th.pdfhttp://www.crh.noaa.gov/techpapers/arp19/19-02.htmlhttp://www.srh.noaa.gov/meg/svrclim.htmlhttp://www.srh.noaa.gov/ftproot/lch/dwsvr.htmhttp://www.fema.gov/nfip/http://www.nws.noaa.gov/om/hazstats.htmhttp://www.nssl.noaa.gov/spc/publications/schaefer/database.htmhttp://www.nwsnorman.noaa.gov/~cortinas/preprints/waf15/climo.htmlhttp://www.nwstulsa.noaa.gov/science/svrclimo.htmlhttp://www.nhc.noaa.gov/pastprofile.htmlhttp://www.harborinsurance.com/guides/disasterprofile.htm(Some links are 3 years old and may no longer work.)
Idea: Using historical data and a thorough independent analysis, after we choose a state we should analyse the costs which will be incurred each year for natural disasters in our state and create an emergency fund.
This will enable our state to withstand a natural disaster without depending on the Federal government to declare a "Disaster Area" and use federal emergency funds to help us! We don't need their stinking welfare!

(update: added Earthquakes)