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It depends on the specific nature of the fire. The BEST plan is to have at least 1 “ABC” fire extinguisher in your home. They are rated for ever type of fire. If you know the fire does not involve electricity or grease (in a kitchen) or another type of fuel – then water is fine. If you have any doubt about your ability to put out a fire very quickly, the best course of action is to leave the home with all of your family and to call the fire department – from OUTSIDE of the home.