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What is the difference between AppleCare and Insurance?

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What is the difference between AppleCare and Insurance?

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Warranties, by their nature, cover parts and labor for manufacturer defects and internal mechanical failure, such as disk failures, inoperative keyboards, etc. Computer insurance compliments the warranty by providing coverage for many kinds of unexpected, externally caused losses and damage: theft, fire, power surges, lightening and accidentally dropped Macbooks.

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