Are there warning signs before an electrical fire?

Are there any clear indicators or warning signs that homeowners and building managers should be aware of to prevent an electrical fire from occurring? Are flickering lights, hot outlets, or the smell of burning plastic potential indicators of a potential electrical hazard? How can regular inspections and maintenance help mitigate the risk of an electrical fire? And if an electrical fire does occur, what are the appropriate steps to take for immediate safety and fire suppression?