Responding to alarms for a living has given me a lot of experience on the topic. If there IS a significant fire you'll be outside for a VERY long time, most likely counted in days not hours.
That changes the equation a lot. I always assumed that we would be let back in after a few (2-3) hours to retrieve our belongings. With several days, the requirements change from near EDC to closer to a true bug-out situation. Cash, medications, travel and ID documents, etc.