I fly an SR20 so in case of the engine failing, I can pull the 'chute.
I think you're worrying about the wrong risk here. Everyone worries about engine failure without looking at the facts. Engine failure isn't the biggest cause of accidents. Add to that the biggest causes of engine failures are fuel exhaustion/starvation, issues that can be fixed by proper planning. Engine failure is the least of your worries.
Most certainly night flying is more risky but the major risks don't change based on the type of aircraft. CFIT, disorientation, somatogravic illusion on take off, are greater risks.
Also I worry when pilots are.happy to accept a risk just because they have a get out of jail card like.a ballistic 'chute.