One of the best things about Apple's product line is not only the sleek design and craftsmanship but the top-notch support that you receive after purchasing their products. New computers and mobile devices offer a year warranty, but Apple offers optional paid warranty extensions dubbed ‘AppleCare' which can significantly increase the coverage for a reasonable fee.
Apple has been running this business model for a while now offering AppleCare purchases on their computers which extend coverage an addition two years (three years total) as long as AppleCare was added within a year of purchase.
The mobile equivalent is called AppleCare+ which is a cheaper investment that extends the warranty on an iPhone or iPad an extra year (two years total) although this purchase had to have been made within 60 days of purchasing the device. MacRumors is now reporting that Apple has changed their policy on AppleCare+ purchases extending the old 60-day post purchase limit to a full year since the date of purchase.
However, there are some stipulations. To be eligible to buy AppleCare+ after you've already received your device, you'll be required to have the original receipt, and the device inspected by an Apple employee (if purchased in store) or register the serial number and run a remote diagnostic to ensure the phone is in perfect working order. This keeps people from abusing the policy and ordering AppleCare+ only after their device is broken.
On the fence as to whether you need AppleCare or AppleCare+? I've owned every generation of iPhone, four generations of iPads and five various Mac computer models. Every time that I've bought AppleCare, I've ended up needing it down the road before the warranty expired.
While I've spent a pretty penny on AppleCare as a whole, it easily outweighs the cost I would have had to pay to replace failing or fault Mac computer internal or mobile device repairs (most recently I used it for a shattered screen/digitizer on my iPhone 7+).