It is a fire hazard. I had my ugly apartment stove covered for a while but I took it off when I read about them being a fire hazard. Years ago I had a hand-me down stove from my MIL when I was first married, and after a power outage something happened to the electric starter and it would randomly try to ignite, we got it fixed of course but that made me think about how it could happen to any stove at any time, and if there is a big flammable piece of wood on top of the stove when it happens that's going to be really bad. So I would encourage the OP to be careful. I still use my cover as extra counter space but I never walk away and leave it on the stove.
I would worry about a fire too. Would go with the colour of your counter any other colour would stick out Or black to match the stove but you already got that.
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