Does Applecare cover stolen laptops?

No. For information about AppleCare+ for Macs see: AppleCare Products - Mac - Apple

Not that in the case of iPhones there is an option (at extra cost) for theft and loss coverage but that option is not available for Macs.

There are many places in Apple site to find info.

The short answer is No. Also it's not insurance

against headache; among other curious surmise.

• AppleCare Protection Plan Terms and Conditions - Apple Legal

https://www.apple.com/legal/sales-support/applecare/appgeos.html

A few gems and facts, may be found among search results.

https://duckduckgo.com/?t=ffab&q=apple+applecare+legal+coverage&ia=web

Not all results are facts; but after all, the interwebs 'traffic' all.

Good luck & happy trails!🌞🎣