Are you using the google drive file manager plugin or just uploading files via a web browser? Not entirely sure how the file manager plugin works but dropbox's is probably the same. It essentially syncs a chosen directory with the remote storage.
Depends on how much you trust Google. If you aren't paying for it, I wouldn't have that as my only means of backup but that's just my opinion. Also no clue what Google does with your data or how well it is protected. You can always encrypt it then push it to them but I would still put it somewhere else: thumb drives, external hard drive, another cloud service, NAS, quite a few options depending on whether you want on site or off site storage.
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