You have to look into Godaddy's SLA to see what do they guarantee regarding backups.
In their Dedicated Servers service agreement they say
FTP Backup
Go Daddy may offer additional features and add on services such as a FTP Backup option. You acknowledge and agree that purchasing such additional features and add on services may require additional down time to install and maintain. You further acknowledge and agree that in utilizing the FTP Backup option, You shall be subject to a maximum disk usage and bandwidth usage as identified by Go Daddy. Subject to the terms and conditions of this Agreement, Go Daddy shall use commercially reasonable efforts to provide FTP Backup services on a twenty-four (24) hours a day, seven (7) days a week basis throughout the term of this Agreement. You acknowledge and agree that from time to time the FTP Backup services may be inaccessible or inoperable for any reason, including without limitation: (i) equipment malfunctions; (ii) periodic maintenance procedures or repairs that Go Daddy may undertake from time to time; or (iii) causes beyond the control of Go Daddy or that are not reasonably foreseeable by Go Daddy, including, without limitation, interruption or failure of telecommunication or digital transmission links, hostile network attacks, network congestion or other failures.
looks like it's their optional feature, but I don't really think you may feel secure even having this feature, make sure you make daily backups.