To protect yourself from hardware failure, you have to move your data from primary storage to a completely separate secondary storage. That secondary storage can be (and should be) less expensive than your primary storage, but it has to have RAS (Reliability, Availability, Serviceability) characteristics that are as good or better than your primary storage. Those requirements rule out tape as well as ruling out partitioned primary storage (SAN or NAS) - although SAN and NAS snapshotting may be used between primary backup protection. The best approach is some type of D2D (Disk-to-Disk) back up. The advantage to D2D back up is that you are using secondary media with higher reliability characteristics than tape while still insuring that you have a physically separate secondary storage set so that you can survive hardware and system failure.
This tongue-in-cheek slideshow, provided by Unitrends, explores data loss from a contrarian point of view - exploring the top seven shortcuts you can take to ensure that you lose your data. And since a fundamental responsibility of any information technology professional, as well as any C-level executive, is to ensure that the data upon which any company is created is protected - scrupulously following these shortcuts should also ensure that you lose not only your data but your job as well.