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For more on marking an answer as the "Best Answer", please visit our FAQ.Hello Minxie,
there are a few things it could be, the most likely two things are the Thermostat or the element, it could even be just a burnt wire on a connection, If it is a burnt wire or thermostat they are simple jobs, if it is the element it will need replacing,
again if the element is in the top of the tank it isn't a difficult job but if it is in the bottom of tank it will be more expensive as whole tank will have to be drained,
Call an electrician he will be able to tell you within 5 minutes what is wrong,
Good luck, Ray