A first probabilistic scenario-based hazard assessment for tephra fallout is presented for La Fossa volcano (Vulcano Island, Italy) and subsequently used to assess the impact on the built environment. Eruption scenarios are based upon the stratigraphy produced by the last 1000 years of activity at Vulcano and include long–lasting Vulcanian and sub-Plinian eruptions. A new method is proposed to quantify the evolution through time of the hazard associated with pulsatory Vulcanian eruptions lasting from weeks to years, and the increase in hazard related to typical rainfall events around Sicily is also accounted for. The impact assessment on the roofs is performed by combining a field characterization of the buildings with the composite European vulnerability curves for typical roofing stocks. Results show that a sub-Plinian eruption of VEI 2 is not likely to affect buildings, whereas a sub-Plinian eruption of VEI 3 results in 90 % of the building stock having a ≥12 % probability of collapse. The hazard related to long-lasting Vulcanian eruptions evolves through time, and our analysis shows that the town of Il Piano, located downwind of the preferential wind patterns, is likely to reach critical tephra accumulations for roof collapse 5–9 months after the onset of the eruption. If no cleaning measures are taken, half of the building stock has a probability >20 % of suffering roof collapse.