You are protected during the 7 day break, and once you start the new pack. That is the beauty of the 7 day break. HOWEVER if you have only gone on the pill recently, it is wise to take extra precuations for the first 1-2 months of it altogether, as it is not guaranteed that you are fully protected while your body gets used to it. After that point, yes, provided you don't forget to take one and you take them at the same time every day.
The 7 days thing refers to when you start on the pill- you are protected after 7 days. This doesn't mean every time after the break, only the very beginning. It wouldn't be very effective or popular if it was unreliable 1 week in 4!