There's another option I've found to be a lifesaver for disaster recovery. I can't afford to lose access to my business laptop, but I also am lazy and tend not to back things up, so I do 3 things:
1. I synchronize two laptops using Microsoft's free Windows Live Sync. This synchronizes specified folders, even through firewalls. I used to use FolderMatch or Syncback SE manually, but Live Sync is completely automated and works over the internet or home network. This makes sure I always have two copies of my data. It also protects against laptop hardware failures to some extent, although since I don't have all the exact applications on both computers, it's not a complete solution.
2. To protect against outright disk failures and boot problems, I always clone my laptop drive. It's cheap insurance for $50 for a 120GB drive. Use DriveClone (drive must be the same size) or Acronis (can size partitions down or up) and make a clone of your "golden" image. Typically, this is a "virgin" install of all my apps, with updates. I keep the clone in a safe place, and if I ever have a disaster, I just pop the virgin drive in, and recover my data from my backup laptop.
3. For email, which contains a lot of my critical data, I use our corporate Exchange server which automatically gets backed up. Because we have size limits, I keep my own archive instead of relying on Exchange. At the end of the year on New Years Eve, I take my entire Inbox, Sent Items, Calendar, and Contacts for the year and store them to a shared Live Sync folder. This keeps my .OST file down to a manageable size, and keeps my infrequently accessed archives in a safe place.