If it's the same "Monster" brand as the audio/video cables, the price is likely way, way
too high, regardless of what brand drive is actually in the enclosure.
I'd stick with Seagate or Western Digital. At a site like Newegg
you can find 1TB self-contained USB3.0 backup drives for about $60 with free shipping. Look for a product with at least 65% or higher "Review" rating with a decent number of reviewers, and stay clear of something with a high number of low ratings...although I belive there are USER-caused reasons for many "DOA" or early life failures of external drives.
In general, I believe most "DOA" failures or early-life failures that people report in the reviews on external drives are either over-temperature failures, user-failure to properly deactivate the external drive before powering it off or disconnecting the cable, or a problem with trying to use the newer advanced format AFF 4K/sector drives on an OS (like XP, older Linux) that doesn't support the 4K/sector device..
Whatever external drive you get
, keep it powered up and attached ONLY for the amount of time it takes to do a backup. In my experience, virtually all external drives are insufficiently designed to keep an HDD cool enough to prevent damage during extended use.
If using Windows, be sure to use the "Safely Remove (devices)..." icon in the taskbar and software-deactivate the external drive BEFORE
you remove the external cable or power off the HDD. Otherwise dataloss or drive corruption may occur.