AppleCare is Apple’s extended warranty program. Every iPhone comes with a 1-year limited warranty and 90 days of phone support. If you pay for AppleCare+, the price of which depends on your model of iPhone you buy, the warranty is extended to two years as is phone support.
AppleCare+ also covers accidental damage. Customers are entitled to two incidents during the two years and are charged $29 for new screens and $99 for other repairs, which is significantly less than the repairs would cost otherwise.
Today, Apple announced an extension of AppleCare+. Now, Theft and loss can be covered too providing additional value to customers. In addition to being available for the new iPhones announced today, theft and loss coverage will be available for customers with the iPhone 6, 6 Plus, 6s, 6s Plus, 7, 7 Plus, 8, 8 Plus, and X according to Apple's AppleCare site.
Theft and Loss coverage includes Apple’s new Express Replacement Service and 24/7 priority phone and chat access to AppleCare representatives for up to two incidents. Find My iPhone must be turned on for coverage to be effective. Replacement costs $199 for the iPhone 6, 6s, 7, and 8, $229 for the iPhone 6 Plus, 6s Plus, 7 Plus, 8 Plus, and XR, and $269 for the X, XS, and XS Max.