My house burned to the foudation because of an electrical short/resistance that over time built up enough heat to get the fiberglass smoldering.
I don't know what the flash point of fiberglass is, but best not to tempt fate.

Vis. sorry to hear about your house, but something else must have caught, fiberglass fibre doesn't burn. At least not at any temperature you would see from electrical heat. Fiberglas panels (like a corvette) will burn evenutally, but require a LOT of heat to pull the resin from the fiber. And then you're left with something that's shaped like a corvette, but made entirely of loose fibers.
FINALLY! A fiberglass topic on BYOAC (and I missed replying in time). Fiberglas(s) will melt, but everything around it must be incredibly hot already (hot enough to melt sand, actually). The kraft paper backing, on the other hand, has a relatively low flashpoint (and some manufacturer's resin/adhesives actually reduce the flashpoint).
I like the idea of a corvette made entirely of loose fibers, though...