If my backup harddrive is in the same house as my main storage and my house burns down, I'm fucked.
If I'm fancy, I may have multiple backend storage providers, too. Lot easier to do that then to have multiple houses. I wanted to use a safe deposit box in the past, but last time I called banks near me, they didn't even have safe deposit boxes available to rent! I can ask some friends, but then will be limited in frequency of updates, still.