Apple Care

Hello,

I purchased the iPhone XS Max in October, i was never offered the chance to purchase apple care and I would like to do so now, however when I click the coverage like and provide my phone's serial number it says repairs and service coverage is active, and "Your product is covered for eligible hardware repairs and service under Apple’s Limited Warranty". Does this mean apple care is already set up? If not, would this limited warranty cover stuff such as water or accidental damage or just hardware damage?

Thank You