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It is unlikely that a ceiling fan will fall, even if it develops a wobble. During a proper installation, ceiling fans are securely bolted to a ceiling joist, and the fasteners used for mounting are generally separate from the components related to balancing. A wobble is typically caused by an imbalance, which can be annoying and may lead to other issues, but is not usually dangerous on its own.

However, if a fan is wobbling because it was not installed correctly, it could be at risk of falling. For safety, it's always a good idea to ensure all mounting screws are tight and to address any wobbling or imbalance issues promptly.

You should generally avoid using WD-40 on a ceiling fan. While it might quiet a squeak temporarily, it is primarily an anti-corrosion and water displacement agent, not a true lubricant, and can damage the fan's components over time. Most modern ceiling fans have sealed bearings and do not require oiling, so a squeak may indicate another issue. For fans that do require lubrication, it is better to use a light machine oil, 30-weight motor oil, or a lubricant specifically designed for ceiling fans.

Most ceiling fans have a lifespan of anywhere from five to 15 years or 10 years on average. Just how long your ceiling fan lasts depends on the quality of the parts, how much it’s used, and how well you maintain it. A fan with a weak motor that runs on the medium setting nonstop is likely to have a shorter lifespan compared to a fan with a powerful motor that runs on the slowest setting for air circulation.

In short, no. You can use the square footage range chart in this article to determine the right size ceiling fan for both indoor and outdoor spaces. However, weather elements can damage types of ceiling fans that aren't designed for outdoor use, so your ceiling fan should be weather-resistant if you plan to install it outside.