Standard fuse when it is blown it is blown and has to be replaced ..
The PolySwitch device, however, resets after the fault is cleared and power to the circuit is removed ..
It is always a good idea to have overvoltage protection, especially in industrial applications ..
Overvoltage protection level can be selected according to data sheets of components used in a circuit you are trying to protect ..
For example, microcontrollers usually work with Vcc=5V, but they are rated to ≈6.5V (or more), so the overvoltage circuit should trip just below that value ..