About three years ago I had a power surge zap through my entire house. A main line outside the house broke loose from some rusted out connector, arced and shorted, and sent a surge through my house that could've caused serious damage.
I say could've because I had all my electronic goodies and toys sitting behind a variety of surge protectors: my home office, (PC, fax, printer, scanner, and telephone), two TV's, even the garage door opener. But, not one unit was damaged in the slightest. The same cannot be said for the various protectors. All of them were scorched and stinky, black and burnt. Dumped 'em, and bought new ones. Cheap insurance.