This is the one I had that caught fire:

I've used one of these Cycle Dryers for years and think they're great!
Light weight, lots of force to dry the entire bike and inexpensive to buy.
I just purchased my second one as the hose tore on the first after approximately 8 years of use. Second one is still going strong and I expect it'll last for another 6 or 7 years... Pretty good for $39.

Just so you know the company stands behind their product. I convinced a friend to purchase one and it broke after only a few months of use. He got in touch with the company and they sent out a new one without even wanting the old one back. He took the old one to an electrician friend who fixed it right up. Now he has a new one and a spare.
Sorry to hear that you've had a problem with yours.