Lightning. I live south of Denver, on the top of a ridge, in the area that has the second highest incidence of lightning strikes in the US (highest is the Tampa Bay area). I also run a business from home that is based on an absurd number of computers at its core, in addition to the studio hardware downstairs. I have to take it seriously, because one stroke could absolutely put me out of business. So I went just about as far with it as the folks who install transmitter facilities on isolated hilltops have to go, right down to doing the ground radials. You'll like this, Phil!
The first thing we did when moving here was contract with a licensed lightning protection system specialist, and have a proper set of power entry point lightning suppressors and a lightning rod system installed. There *are* UL approval procedures for on-site lightning protection systems, and approved installers. If you live in a high-lightning area, seek them out! After the installation (11 lightning rods, 340' of 1/2" copper ground bond cable, four 20' ground rods, and the power entry point protection), the UL inspector came out and gave us a "UL Approved" sticker. For the *house*. This I found amusing at the time...
The next thing I did was to install major-league UPS systems for all the computers, including the studio DAW and HDR. My thought was not only that the UPS would hold up the power in case of failure (which happens altogether too often around here), but also that the UPS would give its life to save the downstream gear on a direct strike. For really critical equipment, like my server farm, the machines are plugged into a MOV/gas-tube suppressor that is then plugged into the UPS. So that's three tiers of MOVs: the power entry, the ones built into the UPS, and the strip. Belt-and-suspenders...
The server room also has its own safety ground system that is carefully isolated from the lightning protection ground, and all the electrical safety grounds are bonded to it with the lowest possible inductance interconnect (wide, fat, minimum possible number of bends).
The last thing I did is install MOV/gas-tube/avalanche-diode suppression on all incoming phone lines at the phone cabinet. I also installed avalanche-diode suppression on all the internal phone extensions, and on all Cat5 ethernet runs (yes, they do make suppressors that can do 100baseT). The reason for protecting the internal lines is that a nearby strike produces enough EMP to induce voltages in the lines that can damage ethernet switches and phone PBX exchanges, _even without having a direct strike on the gear_. This is important: mutual inductance is not your friend. The field strengths surrounding a stroke are absolutely mindboggling.
In 4 years, we've had one direct strike on our rod system, luckily a fairly mild one. We lost one power strip, two Cat5 suppressors, one phone extension suppressor, and *no* computers, disk drives, routers, phone switches, or studio gear. A funny example of the power involved: the stroke was on the living room chimney rod, and I had to go out afterwards and pound the nails on the chimney cladding back in. The magnetostriction from the stroke's EMP backed them out about half an inch in the vicinity of the ground bond cable. It also burned the pointed conical tip of the 1/2" aluminum rod off to an irregular 1/2" ball... No, I'm not making this up. Any questions about how much energy we're talking here?
Even so, lightning is completely capricious and unpredictable. Eventually, we'll probably take a hot strike in the wrong place and lose some gear- but I still think I'm well ahead of the game. We're well protected against indirect strikes in the vicinity, which happen all the time in a normal year, and IMNSHO the investment has been worth it. The view we have makes up for the risk!
You just flat can't do realistic, functional lightning protection on the cheap. If you need it, it's going to cost money, and even so it'll never be perfect- but it *can* be done.
And I also have very good insurance. Belt and suspenders... (;-)