In my opinion (as an experienced EE and long time home hifi/ht hobbyist), people don't need to pay so much for those Monster or similar, complicated devices jammed with electronic parts and no one know how effective they are, and/or whether they might actually create other issues that are not obvious to the users.
Just something like the following will suffice for probably 99% of home users, and installation could be simple and quick to do depending on the kind of electrical switch panel they have:
Note: Another one I found that seems convincingly better, by Siemens, but cost a lot much.
For the main incoming panel:
View attachment 67525
in addition, at the wall outlet when the audio devices, such as an expensive AVR, are plugged into:
I used one of this, but anything make by the likes of Siemens, Eaton kind of reputable manufacturers should be adequate:
View attachment 67526
Many, if not most, people don't use any, and I believe 99.9% have no issues. Manufacturers typically don't suggest the use of such devices either. Some, such as Bryston, actually recommended plugging their amps directly into the outlet, though in recent years they started to make their own surge protection devices and recommending using them (of course right...).
It really is sort of a myth, that while the principles are there, that surges occurred more frequently than people think and would definitely cause damages, the "need" is, however, often exaggerated to the point that it might have made people lose sleep unnecessarily.