Chip pans are one of the most volatile objects in most houses due to their high risks of burning their users. A far safer option is to go for a deep fat fryer with a closed lid, instead of the open top chip pans. If your chip pan does catch fire, never throw water over it (as this only intensifies the blaze, as seen above) or try to carry the pan outside. The correct procedure is to turn off the heat and cover the pan with a fire blanket or wet towel.
Another concern is that oil consistently reheated begins to break down and has been linked with hardening of the arteries and heart disease.