I had no problems whatsoever. They were pretty good, though the repair facility took over a week. It was $99 for two year coverage.
I went with AppleCare+ for my iPad and SquareTrade for my Nexus 7 and Galaxy S III.
I don't think there's a deductible for the Nexus 7. $250 maximum damage. Something like $37 bucks for two years with the coupons SquareTrade circulates around.
It's $100 for the Galaxy S III ... and there's a cap on how much they pay out over the course of two years. I think it's $550 total for repairs and replacements. Paid $100 for that waranty.
iPad is two replacements. There's no monetary bucket. It's $100 for the AppleCare+ and 50 per deductible. There's no difference between a faulty speaker and a cracked screen. I mean, as long as it doesn't look intentionally destroyed with a grenade, they'll warranty it.
Also, I heard that with iPhone, there is a replacement fee if you don't have AppleCare+ or AppleCare but I have no idea how that policy is now implemented since they started doing damage claims.
It is all about peace of mind though. I do like it. I'm still just as careful with my stuff.