Flammable liquids cause over 43,000 home fires each year resulting in 2,500 injuries and $470 million in property damage. The document defines the differences between flammable and combustible liquids and provides examples of common household items that contain flammable liquids like gasoline, cooking oils, nail polish, and rubbing alcohol which people may be unaware can cause fires if not properly stored and handled. It stresses the importance of understanding labels and safety data sheets of flammable liquids to safely store and prevent fires.