I have a number of files that I want to keep for a long time. These include a bunch of photos, videos, etc of my family. A year or so ago, I started using a cloud backup service recommended by my coworker, Backblaze, which costs ~$5 a month for unlimited backups. I've got just shy of a terabyte of data stored with them.
I have considered cutting the monthly expense and going to multiple hard drives stored in different locations, but that's a lot more work and has it's own problems. With the prices quoted for file recovery by others in this thread, I'm happy to pay $50/yr (discounted from monthly payments) to have someone else worry about the logistics.