Fault detection and isolation with redundant strapdown inertial measurement unit is critical for ensuring the reliability of the guidance or navigation system in the fields of both aeronautics and astronautics. Although the parity space approach is used widely, it cannot detect the soft fault which affects navigation performance under pulse quantization. This paper develops the three-channel filters to detect the soft fault and conducts theoretical implementation. The constraint conditions of their parameters are explored and the influence of the weight of different ratios is analyzed. The Monte Carlo simulation is carried out in order to verify the validity of the fault detection and isolation method. The simulation results and their analysis provide a theoretical reference for fault detection and isolation with redundant strapdown inertial measurement unit.