The surge protection is MOV based. Normally there is no loss of effectiveness unless the surges encountered exceed the rating. If a surge happens the MOV is not toast, it actually resets but with enough excess surge current (e.g. a lightning strike into the line in the wall next to it – (which is possible in the USA) it would be vaporized. Of course this is an extreme case where there is likely a substantial insurance case and a ruined house. Under normal conditions, everything should be fine.
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