Good point to bring up.
Always keep regular backup copies of your files and database(s) for three reasons:
1) In case your site gets hacked or infected, you can go back to a point before the hack/infection.
2) In case the host you choose goes out of business, you still have a copy of your site that you can get back up and running.
3) In case the host holds your site/files "hostage" by drastically increasing hosting costs, you can pick up and go elsewhere.
However, if you pick a well-known host with a good reputation, 2 & 3 probably won't be an issue.