Some surge protectors are designed to be sacrificial. When they protect they die. They are usually cheap, and cheerful.

There is a class of silicon fuse that when the current exceeds the threshold they go high impedance and will restore if the power is removed and given a little time.

But surge protectors may be fast fuses with parallel knee diodes that go high current when the voltage exceeds the knee. The fuse blows and is not necessarily replaceable.

As my mum used to say "penny plain, twopence coloured". You get what you pays for.

One problem to look out for is the telephone connection. When the modem is internal (56K reember them?). A lightening strike may hit either or both lines. So any outside wires can fry the equipment it is connected to. My phone lines are buried and I have a surge protector. Safe as er um ............
Then one day the 3 phase dropped a neutral and the phase I was on gave me nearer 400 volts, neighbours definitely got all 440 because it fried their clocks (etc). My DECT phone stopped working, it overheated the transformer and melted the heat fuse. I was lucky. I only put the surge protector on the PC and video recorder.