Great question. I found an article that explains it much better than I ever could.
Listed are the "must-have" tools and actions to take today to protect your computer from hacking, viruses, and black-masked thieves.
In short, YES. Nobody wants to get hacked. It takes time and money to get the site back to normal. Most hosting providers do a fair job in keeping hackers away but a lot of the responsibility relies on you and your developer. In most cases, a poor password is to blame OR a security vulnerability was found and exploited.
We get this question of lot. Well not really a question but a statement. Most people think that since they are paying a hosting provider a fee to host their site that they also back it up. Most hosting providers do backup your site but not on a schedule you might like. Some may do it frequently while others may do it weekly or longer and even others rely on you to issue a backup.