OP said 'spikes' and mentioned 132 Vac. Spikes can indeed shorten the life of your surge protector but if it's a Progressive Industries, it's both guaranteed, AND, it has a user removable board that can be disconnected and returned to Progressive for a replacement making it a simple and effective method of quickly restoring proper surge protection. Without having to return the entire unit.
It's sort of a 'limp mode' without the board but only in that you have limited spike protection.
And they don't pay me anything to talk good about them. I just appreciate their products. I've owned both the 30 amp and now the 50 amp...both the interior type.
Hopefully, OP has the PI product.