"Need it"? I'm haven't decided if I need it or not. In my case I'm considering it because I would think it would be the prudent thing to do....primarily from the point of home owner's insurance. I admit I do not know the specifics under which you would be screwed if your house burned down and no precautions were taken. Clearly, this is not a fire proof box. It is however more protection than stacking cans of power under your bed.
Before anyone jumps in and wants to have a debate about what temperature a house fire gets to or how a metal box is like a bomb in a fire I want to head you off at the pass and let you know that that isn't the purpose of this thread.
For $200 it might be worth a look even though "technically I'm not required" to have such a box. What are your thoughts with regard to what is required by the BATF, your insurance company, or your state, county, or city when it comes to storing powder......????