The number of people exposed year after year to natural disasters (lack of water, excess of water, strong winds, and earthquakes) is very high. Among natural hazards, those from extreme weather, especially floods, are more frequent and affect the greatest number of individuals. Generally in Benin, and particularly in the city of Cotonou, flood constitutes a serious issue every year. This study aims to analyze the impact of floods on the population’s welfare and the maximal acceptable risk by population settling in flood-prone areas in order to know more about the real situation. A survey has been implemented on 150 households that are in the areas prone to flood risk randomly drawn within the research field for that. It reveals that households are really affected by the negative consequences of floods. Moreover, it shows that, households living in flood-prone zones are exposed to risk level that is greater than the maximal risk they accept. An econometric analysis of the maximal acceptable risk is carried out in order to find out its main explanatory factors. Among other, the results show that the households whose heads are men are willing to bear more risk that those that are headed by women.