Hi
I would more recommand to have a full backup of the server, some tool allows instant restore on the ESX (like veeam community which is free), that way you could put the backup file on another storage outside your ESX pool.
Another scenario possible if the backup ESX is there only for backup, would be to use vReplicator from VMware on it, which is free too. vReplicator sync the protected VM via snapshot (at each interval, like 10m or 1hour), and you can "start" the remote VM if the primary's one fail.