Your Sufrace Pro 3 has a recovery partition. In this partition, you have your recovery image. If you ever want to refresh your PC, or reset it (reinstall Windows) then this image will be used to do that. So if you get into any trouble, you have an onboard recovery image - no need to make one.
You can move the image off of your Surface to gain a bit more space, but I recommend leaving it where it is.
You can also create more advanced images, such as a full system image. This would be an image of your entire SP3 as it is - metro apps, settings, desktop apps, drivers and the whole lot. You can create one of these and save it to an external device, whilst still having the stock recovery image on your Surface.