Every iPhone comes with one year of hardware repair coverage through its limited warranty and up to 90 days of complimentary support. AppleCare+ for iPhone extends your coverage to two years from the original purchase date of your iPhone and adds up to two incidents of accidental damage coverage.
The cost of a screen replacement for those with AppleCare+ used to be $99 but that has now been dropped to $29 for all iPhones including the new iPhone 7. This makes AppleCare+ ($129) a more compelling purchase.
If you think there is a good chance you might accidentally damage your device over the next two years, you need to purchase AppleCare+ within 60 days of your iPhone purchase.
More details at the link below...