You probably already know, but it’s worth pointing out the difference between a warranty and insurance. A warranty is a guarantee from the manufacturer (in this case Apple) that states that the product will remain free of defects until the warranty expires. Defects only include errors that were caused by issues during manufacture or during normal operation; for example – the CD drive unexpectedly stops working.
If you damage the product (either accidentally or intentionally), it’s stolen, lost or otherwise, a warranty doesn’t cover that. Insurance, depending on your plan, can cover you for a number of things, including all of the above. Although insurance is typically more expensive, you may be able to add the item to your household insurance.
Too many people turn up at the Apple Store or other places saying they dropped their laptop, and asking if it’s covered by the warranty. That’s not what a warranty is. ;)