Structural fire safety is a topic of general concern, but the utility of investments in structural fire safety is often questioned based on the fact that the probability of fire exposure during the lifetime of a structure is generally small. Considering the current trend towards performance based design, optimum design solutions have to be determined in which upfront investments are balanced with gains in fire safety during the lifetime of the structure. In this paper a basic framework is presented, taking into account the probability of fire ignition and successful fire suppression, the probability of structural failure during fire and the costs of rehabilitation after fire exposure. The presented methodology is applied to determine the optimum concrete cover for a concrete slab as a function of the fire load density in case of natural fires.