You should have surge protection on all of your phone lines, and either a surge protector or a UPS (Un-interruptible Power Supply) with surge protection on the power line.
Modern phone systems are generally very reliable, but they can be damaged or destroyed by power surges coming from the electric outlet or a phone line.
Phone system warranties usually don't cover damage from surges, and the loss of of a phone system for even one day can be devastating for a business and extremely inconvenient for a family, so
USE PROTECTION.