A faraday cage would be needed but not sufficient for a generator that was wired to automatically come on and power the house at the loss of utility power. A person would be smart to consider an induced power spike riding in on the incoming power and control lines. Some kind of surge protectors would be in order.
The fact is that nearby lightning strikes can induce high voltage spikes enough to take out semiconductor P/N type junctions in electronics in your home wiring no matter where you have a surge protector, unless your whole house is encased in a 'faraday cage' AND your have an incoming feed surge protector that is rated for quick transient HIGH voltage spikes.