I usually buy AppleCare+ for my new products (laptop, etc). I think an awesome use case here is the “hand me downs” that my 8yo gets. All are out of warranty, but he’s a lot tougher and more clumsy with the equipment. Covering all that (Mac, iPad, iPhone) for $20/month seems like a good deal.
Then again, when he breaks something, I don’t get to justify buying myself a new one :)
My 8yo has a hand-me-down iPhone, but she only gets it when we go out to festivals/camping/a big park or something so she can wander off and do her own thing and then we regroup later. It's locked down into the basic "Assistive Access" mode so it only has the very basic features, no YouTube or entertainment at all.
Then again, when he breaks something, I don’t get to justify buying myself a new one :)