Maintaining Drupal websites can be complex and it becomes more difficult if the website is large / complex and has lots of customization done. This leads to another problem of backing up your files and data regularly to avoid any issues of hardware failures. If your host offers automated regular backups of your website and database, then you are in good company but most shared hosts doesn't have such facilities and only keep a recent backup for a week or so.
NodeSquirrel.com offers a free account for one website where you can store up to 5GB of website files and database backups.
Visit NodeSquirrel for more details about the other backup plans incase you have multiple websites or need more space than 5GB.
I will write a step by step tutorial for setting up cloud backups soon.