I do the same, except on PC. I don’t trust the game to not do something horrible, it’s so buggy. I’ve only had to use a savegame to save the day once though (apart from when testing mods). I had gotten stuck on terrain in a difficult situation and couldn’t get back to my body easily after suiciding, I kept dying and losing all the great stuff I had on me… so I kept reloading it until I succeeded because I wasn’t going to let the game shaft me like that. I don’t mind dying & losing my stuff due to regular gameplay, I welcome it, but I’m not going to accept being screwed by bugs if I can help it. Though, this was not nearly as bad as losing all your thralls * shudders *.
Still, I feel safer just knowing I can always reload a save if the game screws me over. It’s easy to create backups of the save folder on PC.
Edited to add a link to a video (not me) explaining how to backup your save game on PC for anyone who doesn’t know…
Alternatively, you can give Mikey’s Toolbox a try.