I don't really recommend it if it's not really in your budget. The only time I recommend users to have multiple hosting locations is when you're a webhost that needs to ensure that their main website is up in the event their servers go down.

I do this myself by having my main server with WiredTree versus keeping it on servers I have clients on.

It's not really necessary for just basic sites. The only thing I do recommend is to keep your own backups (if you're using cPanel, use cpmove backups.) That way if something does happen to your current host, you've got backups to restore elsewhere should their service end and/or have any issues.