NVM, after doing some forum search I found my answer:
https://support.lunarpages.com/knowledge_bases/article/277
So it looks like you guys do Database backups automatically daily with the premium restore.

LP has long backed up the database servers daily. If there is a problem on their end (e.g., server crash, major intrusion), they will restore your database or files for free. However, if the problem is on your end (e.g., your application corrupted the DB or was hacked, you accidentally pressed the wrong button) you have to pay a hefty fee to have your database restored (they have to find your data among all their customers). If you have Premium Restore, think of it as an insurance policy to pay for any restore you need to request.

That said, LP only keeps backups (both database and files) around for a few days, before overwriting the tapes. Their primary concern is the entire server or DB system going belly up and needing to be restored, and that should be discovered fairly quickly. So, it's a good idea to keep your own backups (both DB and files) offsite for maximum safety. All too often, people discover a need to restore data (DB or files) long after the last system-wide backup that would do them any good, and the backup they need has already been overwritten.