Correct me if I am wrong but isn't the savings more like $169?. Applecare itself is $100 up front. Then there is an $80 deductible for an accidental damage claim but yours was a no power issue which I don't think there would be the $80 deductible.
I had been buying applecare the past couple of years for my family's devices (4 phones for self, wife, and kids). Earlier this year I accidentally drowned my iPhone 5S. I had to pay the $80 deductible and so that was actually $180 out of pocket when I could have spent $269 if I didn't have it. I decided to skip the applecare for our iPhone 6's. I am looking at it like this: With Applecare-I would have to pay $400 regardless of what happens and a possible $80 each incident for accidental damage. Without Applecare- I pay nothing up front at all and if the screen breaks on our iPhone 6's, Apple only charges $109 for an out of warranty screen replacement (cheaper than older iPhone's). If worse happens, pay $299 at most for an out of warranty repair fee. Otherwise if nothing happens, I save $400 to begin with.