I don't think this is a natural disaster on par with Katrina -- nowhere near. And I'd be surprised if people are reimbursed for much by FEMA, unless they pay to replace trees or loss of business due to loss of power.
I hope the local governments can get reimbursed, though, because they are going to incur huge recovery costs -- and, of course, that will cost all of us already over-burdened taxpayers. I think it's going to take weeks and weeks to get this cleaned up.