I am in Raleigh, and have underground utilities in my development, so we are less suceptable to the Big hits, as they usually hit the overhead lines, and are dissipated as they travel through the ground. If you are out in the wild, with overhead feeds, DEFINITELY get into the habit of unplugging critical electronics during heavy lightning storms, or as often as practical.
Also, get Duke to install the surpressors on your service panel, it is a small fee, and they accept more liability in the case of a hit (for non industrial equipment).
Most of the yahoos installing dishes for sat tv, or homeowners DIYer, installing antennae, do not adequately ground the system(s) and feed lines. Study, and make th investment in the proper grounded cables and arresters.
Another issue is brownouts, I have lost more equipment because the supply voltage has dropped out of spec, and caused the unit to overdraw current to compensate. Strange things happen when the voltage drops, like computers tattooing hard drives, etc. Only way to guard against that is a UPS. As for the welding, and other shop equipment, I always unplug when not in use during thunderstorm seasons.
Just thinking, I would store the flammable gasses (Acetyline, Porpane) AWAY from the electrical service entrance panel, just in case. And per the code, all gas lines (piping) need to be bonded (Grounded) to the earth ground. Not a bad practice for all shop plumbing as well.
Lastly, there is always the option of including property damage riders on your insurance policy for specific devices (homeowners, or business).
Everlast PowerPro 256 (2013)
Northern Hybrid 200 & ST80i
HF 90Amp FluxCore (Don't laugh, it is what got me started)
Lotos LT5000D Plasma
HF 4x6 Horizontal Bandsaw
Rikon 18" Bandsaw w/VFD
Delta 14" Drill Press
Robland NLX31 Euro Combo WW