I purchase AppleCare+ for every service and tend to just pay for it in full.
I’d rather have insurance and not need it than not have it and need it.
They even now cover loss and theft on iPhones which is great.
For most devices the upfront cost is cheap too so it’s a no brainer, add to that the fact that you know Apple will honour it.
Insurance normally has a fear factor of wondering how easy a claims process will be, and whether they’ll even honour a claim. With the express replacements Apple now offer on most AppleCare it gives even more peace of mind.
I think the issue in general is the monthly payments, whilst it may cost the same I am going off paying monthly for anything that has alternative payment methods.
Once I’ve paid for something I forget about it, streaming services is a prime example, the likes of Disney plus, paramount etc I pay for annually. I get it’s a psychological thing but I feel better lol