Integrated disaster risk reduction in schools represents a key component of safety strategies within the educational sector of every country. The aim of this study is to comprehensively explore the impact of various demographic and socio-economic factors on the perceptions of students and teachers regarding disaster risk reduction and safety in schools. This study is distinguished by its extensive empirical approach, employing a multistage random sampling method to conduct 850 face-to-face interviews (650 with students and 200 with teachers) throughout 2023 in 10 out of the total 18 municipalities in the Western Morava Basin of the Republic of Serbia. Two structured survey instruments were developed, incorporating a mix of qualitative (closed-ended) multiple-choice questions and five-point Likert scales. The research proposes two central hypotheses regarding school-based disaster risk reduction. Firstly, it suggests that gender, age, parent’s employment, academic achievement, living situation, parental education levels, and engagement with social media collectively influence students’ perspectives on this matter (H1–H8). Secondly, it posits that gender, age, marital status, parenthood, and educational background significantly impact teachers’ viewpoints on school-based disaster risk reduction (H1–H5). Multivariate linear regression was used to explore predictors of students’ and teachers’ insights on school-based disaster risk reduction. Various statistical tests, including Chi-square, t-tests, one-way ANOVA, and Pearson’s correlation, were employed to investigate the influence of demographic and socioeconomic factors on these insights. The results of multivariate regression analyses indicate that age, gender, and marital status emerge as the primary predictors across various facets of students’ and teachers’ insights on school-based disaster risk reduction, including awareness of disasters, disaster education activities, attitudes toward disaster risk reduction education, and enhancement of disaster information accessibility. The findings of this study provide comprehensive insights into the key factors influencing students’ and teachers’ perceptions of disaster risk reduction in schools. This research not only contributes to the academic discourse on disaster education but also serves as a foundational basis for improving educational programs, developing policies and strategies, refining normative educational frameworks, guiding teacher training, and informing further research in disaster education.