Does itunes keep up with downloads if they are deleted or removed from comp

was wondering if itunes store keeps up with transactions in case downloads on computer are lost or deleted, so that items can be downloaded again without having to pay twice.

The policy on lost purchases is that you have to pay to download them again:
"Once a Product is purchased and you receive the Product, it is your responsibility not to lose, destroy, or damage the Product, and Apple shall be without liability to you in the event of any loss, destruction, or damage." iTunes Store: Purchased content can be downloaded only once

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