What exactly is applecare plus?

AppleCare+ covers two incidents of accidental damage and does not cover lost/stolen devices. They do not offer regular AppleCare anymore, the "+" simply differentiates between the new and old offerings.

 

Quick search....

 

Quick Google yielded THIS. Use SEARCH if you don't want to read the entire document.

A friend of mine bought insurance FROM THE CARRIER for her Samsung and her phone was replaced after it was stolen, so you may want to check with your carrier in addition to Apple.

 

Some good information here. SOmething I will add...

Since it doesn't cover lost or stolen, if your phone DOES get lost or stolen, Apple will reimburse you the prorated value of Apple Care + you paid that you haven't used. If you sell your phone, you can have them do the same thing. Carriers (or other third parties) often will cover lost or stolen phones, however, there is generally a monthly fee, around $10 on top of a pretty large deductible (can be upwards of $200).

One last thing to consider is that some credit companies, American Express is one of them, will replace your phone if you damage it, assuming you bought the phone on their credit. Essentially what they have you do is send them the receipts of the phone you replaced it with and they will credit you that amount. It's a bit like Apple care +, but free, however you are temporarily out the out of warranty replacement cost of the device.

 

Have you even looked at Apple's site?
http://store.apple.com/us/product/S4575LL/A/applecare-for-iphone

No need to guess. Again, refer to the site.