That sounds like the Atwood System.. YES there is a chance of a second switch
now.. One option: Lighted switch IF it is a lighted switch turning it ON should light it up.. Unless the bulb is burned out
Switch is a 12 volt device.. When ON it sends battery voltage to a pin on the Water Heater control board that says "Use AC" The control board then sends 12 volts... as needed... to a relay on the back of the water heater (Control board is in the OUTside compartment, Relay inside on what I call the backside)
Suspects:
Bad switch (Check with test lamp or volt meter
Bad control board (On mine the Propane side went out)
Bad relay
Tripped circuit breaker
Bad connection at the Circuit Breaker (I had several of those, assorted branch circuits)
Bad connection RELAY
Bad connection Heat element
Bad heat element.
Now on some systems the 120 volt and Propane systems are independent.. On those th 120 volt switch may be a 120 volt switch (SO USE CAUTION)
Possible issues include bad 120 volt side Thermostats and again all connections.