Your new Mac comes with 1 full year of warranty coverage for the hardware. 90 days of phone-support.
You have that first year to purchase an additional two years of AppleCare coverage (making for a grand total of 3 years from original date of purchase).
No. AC (AppleCare) does NOT cover accidents. 🙁 And will not cover other issues if they can easily attribute the hardware failures do to a fall or perceived accident.