That's what I do. My calibre database sits inside my Dropbox folder so anything that gets added to Calibre automatically goes to Dropbox.
I also have Mozy.com which is a paid back-up service. But I won't have them once my subscription runs out because they've now apparently raised their prices and they don't have unlimited back-up anymore. There are several similar companies though.
Then I have an external hard drive here at home that makes a nightly back-up of my laptop.
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