I see Applecare as a hedge bet and not worth it. Essentially you are betting that you'll break the phone in some way and rather than paying out of pocket when that happens, you are paying up front at a potential discount depending on what you do to it. Once you shell out the $ for AC, it's gone regardless if you actual use it or not. It's a money making program for Apple...they don't offer it out of the goodness of their hearts. More people pay for it and never use it.
After owning all of the iphone models over the years, I finally broke my 64GB 6+ by taking it in the pool. Oops. Never had any breakage with any phone previously...most never had a scratch. Without AC or any kind of warranty it cost me $329 to replace. For an $800 phone I think that's a damn good deal. With AC it would've cost $79. So it cost me ~$150 more than it would of if I had AC if you figure in the up front cost of AC. By not paying for AC all those years on all the phones I've had and not broken, I still come out way ahead.
The moral of this story is if you take care of your stuff and breakage is something that rarely happens to you...skip it. Especially if you can afford out of pocket repairs.
If you are a total klutz and you go through broken screens, etc all the time, it might be worth it for you. Not sure if there's a cap on the number of times you can replace/repair on AC. However, IMO you're better off spending the money on a lifeproof (or similar) case if you can stand the bulk.