Any information/data which is valuable to you, keep backups, regardless of the media (cheap vs expensive, brand name vs unknown, etc). All electronics, hard drive, etc, will die sooner or later.
Here is some simple reading in regards to backups, I like to provide this link since some people look at redundancy as backup, which is not.
http://www.cnet.com/how-to/digital-storage-basics-part-3-backup-vs-redundancy/
