Loss and damage from floods and landslides are escalating in the Philippines due to increasing frequency and intensity of typhoons. This paper investigates the types and scale of loss and damage in two municipalities that were affected by typhoon-induced floods and landslides in 2004 and 2012. It assesses people's preferences on adaptation measures and perceptions on human-nature links on occurrence of disasters. It reveals that human loss and property damage are causing psychological distress to affected people, undermining capacity to adapt to the next disasters. Many vulnerable people are not aware of the link between climate and land use change. Moreover, many depend on unsustainable land use for source of livelihoods particularly after disasters. The preference for measures to reduce landslide risks through reforestation and logging/mining prevention is thus low. Insurance is not a preferred mechanism for reducing risks because regular payment of premium is not affordable to vulnerable people.