We use high quality, enterprise-class hard drives with RAID 10 arrays in our storage systems. The storage drives can therefore tolerate several simultaneous failures without any risk of data loss.
Our storage drives are also constantly monitored and automatic alerts are sent our engineers if any problems are detected. If a problem is detected, we hot-swap the offending drive/s with new ones. This reduces the chance of data loss to an incredibly low level.
Additionally, our storage system checks data integrity using checksums and automatically corrects any errors. We also have a high-availability cluster for the instance databases, making the chance of a complete failure very minimal.
Backups are also performed automatically several times a day. Backups are never stored on the same machine where the Nextcloud instance is running. Backups can be used to restore your Nextcloud to a previous state at any time.
Finally, if you use the free client software to synchronize your data with your computer or device, you will have an additional copy of your data.