Managed Hosting
- Updates to your OS and panel
- Support and knowledge of the configuration
- Monitoring of the server (is online and serving traffic, disk space, all services are online, load is normal)
- Security: If the server comes under attack, a staff member will sign on and start blocking IP's.
- Backups
- Provider may not even give you root access.

Unmanaged
- Provider takes care of the underlying infrastructure only
- No or limited support for what is installed. You may need to pay $xxx/hr for them to start troubleshooting or find your own support
- No updates
- Provider likely does not know your sign on credentials
- Often no backups
- Huge expectation you are the server administrator and know what you are doing.

In the context of web hosting, often our 'Fully Managed' clients are resellers with limited server administration knowledge who want a reliable hosting service. This extra support is priced accordingly. 'Self Managed' clients are often web-developers who like our platform or service but want more control.
Many providers will still sell 'addons' with their self managed products like server monitoring or backups.

You absolutely do need to check with each provider as it may vary. Never fully trust backups and have your own solution as a last resort.