No, as far as dual failure goes. The odds are very low.
The bigger concern is fire, flood, power surge (lightning strike), ransomware or theft. So, you want one which is secured from those things. Rather than just one sitting there. Plugged into a computer 24/7. I keep my computers unplugged during lightning storms too. I've had a direct strike knock out two cable boxes, cable modem and several pieces of network equipment. All on good name brand surge protectors. I think it went through the COAX, from there to the nearby network equipment. So, a computer and hard drive are at risk.