This is a terrific question. It really depends on how the website was built and what service you are using. If you are using Managed WordPress then yes, GoDaddy backs up your website every day around 2-4am Eastern time.
If you are using shared hosting then probably not. If you want you can backup your files yourself, but if you delete a file most likely it will be gone.
There is a great help file on this topic too
I had major issues with my site and I was told the site could not be restored... I used the web site builder, shame on me! I was lucky, in that I was testing the hosting and site builder before moving my eCommerce sites.
I do think the web site templates are great, but the builder has a ton of issues. I lost several versions of the sites (if you add a section type, Content for example) to multiple pages it will overwrite the sections at times. The site content also "resets", the provided images become distorted, or disappear.
I would not recommend using the hosting or website builder for a site that you need to be up or that supports changes to content through the site builder tool. I would look around more, at other service providers, unless you are planning to dump the entire site/domain after a year or the free trail.