I don't have AppleCare, but I do have insurance. I bring my MacBook Air with me to work and to my uni. campus many times a week, and I also bring it with me on holiday. The insurance will cover not only the case of theft, but also if the device gets damaged for any reason. The premium is around $65 per year, and a new device costs $ 2200. I do take care of my things, but sometimes, that's not enough.
----------
Don't most people have home insurance? I'd expect for any house insurance worth getting, your macbook air would be covered.
It's covered while in your home, yes. And a travel insurance might cover theft or robbery when you take it out of the house. Normally, none of these will cover
accidental damage outside home.