I have a computer here that belonged to a friend. It was in use during a storm and it was ruined by a power surge. I believe they were not using a surge protector on it but, of course, even surge protectors can only offer a limited degree of protection.
My mother's older computer had an internal dialup modem ruined by a storm, even though the telephone line was routed through a surge protector with phone line protection. Fortunately, no other components were damaged.
Aside from thunderstorms, power fluctuations can be caused by other factors. I live in a community which has grown rapidly in the last 15 - 20 years. I believe construction activity, particularly the connecting of electrical power to new buildings, can cause power fluctuations in a local area. That's why I use a
UPS with my main system.