I have a commercial grade surge protection system on my home here in Tucson. It came with a $10,000 guaranty against damages incurred. A friend of mine is a residential electrician that I was happy to pay $325 to install it about ten years ago. We get a lot of lightning here, especially during the Monsoon. Most of my neighbors also have this system.
If the lightning does not get you the power surges that follow likely will leaving the unprotected at risk and cumulative damage is still damage. Some of the comments in this thread arguing that surge protection /EMS are snake oil really make me laugh. My EMS {PI} has saved us from damage many times not just from improperly wired pedestals which are very common especially in older parks but from damaging low voltage as well as high voltage spikes. That is simply a fact and has NOTHING whatsoever to do with the so called "placebo effect".
If you don't think running AC systems on low voltage or subjecting them to unprotected voltage spikes can do serious damage cumulatively shortening the systems working life you clearly have no idea how these things actually operate.
:S
