The fear of God is evidence that we are in covenant with God. "And I will make an everlasting covenant with them, that I will not turn away from doing them good, but I will put My fear in their hearts, so that they will not depart from Me" (Jeremiah 32:40).
What is the fear of God? The fear of God is reverence for God. That means you hold God in awe. To the contrary, tormenting fear is not from God. It is never good, and always evil. It doesn't come from God (2 Timothy 1:7). Noah was motivated by godly fear: "By faith Noah, being divinely warned of things not yet seen, moved with godly fear, prepared an ark . . ." (Hebrews 11:7).
Why is the fear of God good for us? God's fear in our hearts is proof that we are God's covenant children. It is evidence of our eternal salvation. It is designed for our good and to give us assurance that we will not depart from God. This godly fear is a sure sign that God is at work in us.
What about those who don't fear God? Therefore, to be without the fear of God is a sign of being outside of a saving relationship with God (Romans 3:18). However, to experience covenant fear is evidence that God is working in your heart; you are in a relationship with Him, and you will not depart from Him (Acts 10:2, 22, 35).