I've had pretty good luck with my garmin straps, did have one die on me once, but I also have one that I bought about 10 years ago, that I use as a back up, but I think the biggest fail point could be when you have to replace the battery, if the gasket is worn or shifted and water\sweat gets in, it can degrade the system. Still amazes me they have not moved to a sealed system yet and rechargeable system. There are several you can find that are rechargeable for fairly low cost, that I am looking into, there is also the arm style that my wife uses that I picked up on Amazon for maybe $25. Rechargeable and when I did a side my side test, it gave me the same results as my Garmin chest strap, so I would even consider moving over to it as well. I had an old Wahoo chest strap that came as a combo with my original Elemnt head unit and it failed on me within a couple of weeks, but the replacement they sent me was flawless for years. In the long run, if this Garmin strap dies, I will not replace it with a Garmin, too many options that work just a good for a fraction of the cost.
Edit: This is the
HR Monitor I got my wife... She hates chest straps.