AppleCare. It’s worth it.
You can go into the Apple Store to have most repairs done. If they can’t, and it’s something serious, they will usually replace it with another device from stock in the store, either new or refurbished which is just as good as new. AppleCare will carry over to the new device they give you.
This year, Apple added the Theft & Loss option which was why many chose Asurion and other 3rd party coverage in the past.
With Asurion the phone has to get sent out for review and repair. Asurion uses any parts they can get their hands on. Once the seal is broken, you may not have the same water resistance rating as when originally purchased.
I know someone who used them and they swear they don’t have the same phone anymore. Nothing they can do and Asurion gives him the run around. Going to Apple at this point only brings much higher repair costs and because he went 3rd party, Apple doesn’t want to touch it.
Go with AppleCare.