This verse records the promise of the Lord when He sent His Son to die for us, even though the passage appears in the Old Testament. Let us never forget that our Daddy God is in the business of declaring all things, the end from the beginning (Isaiah 46: 10)
In this verse, we see the mention of Jacob, the Israel.
God created man, which speaks of Jacob, and when God sent His Son to die for man, made dead in trespasses, received a new standing in Christ Jesus, Israel (which means prince with God).
The reason that we know that God protects us, is that we are redeemed.
"Being justified freely by his grace through the redemption that is in Christ Jesus:" (Romans 3: 24)
"In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace;" (Ephesians 1: 7)
"Who hath delivered us from the power of darkness, and hath translated us into the kingdom of his dear Son: 14In whom we have redemption through his blood, even the forgiveness of sins:" (Colossians 1: 13-14)
This redemption speaks to the full and forever truth that all our sins are forgiven:
"Who being the brightness of his glory, and the express image of his person, and upholding all things by the word of his power, when he had by himself purged our sins, sat down on the right hand of the Majesty on high" (Hebrews 1: 3)
"But this man, after he had offered one sacrifice for sins for ever, sat down on the right hand of God;" (Hebrews 10:12)
Because of this full redemption granted to us in Christ Jesus through His blood, the New Covenant is enacted in our lives:
"For this is the covenant that I will make with the house of Israel after those days, saith the Lord; I will put my laws into their mind, and write them in their hearts: and I will be to them a God, and they shall be to me a people:
11And they shall not teach every man his neighbour, and every man his brother, saying, Know the Lord: for all shall know me, from the least to the greatest.
12For I will be merciful to their unrighteousness, and their sins and their iniquities will I remember no more." (Hebrews 8: 10-12)
There you find the perfect protection we have in Christ.
We are redeemed because of Jesus, and thus we know and believe that He protects us.