One relay is enough. Fit a new one though.
A duff voltage reg causing high system voltages will fry your battery and blow bulbs, it won't cause a catastrophic short.
Things that cause shorts:
- internal issues in the fan motor
- connection or wire going to ground (ie: loose and touching the case or chassis)
- misrouting leading to wire insulation failure (ie: rubbing through the insulation)
- insulation failing over time due to heat cycles or chemical exposure
- poor connection leading to heat, melting and eventual grounding (surprisingly common)