Does AppleCare cover a lost or stolen iPhone?
Purchased IPhone 11 Pro Max in March It has been stolen. Will it be covered by Apple Care?
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Yes, if you have: AppleCare Products - iPhone - Apple
"AppleCare+ with Theft and Loss
AppleCare+ with Theft and Loss includes up to two incidents of accidental damage, theft, or loss coverage every 24 months.3 Each incident is subject to the deductibles listed below. In addition, you’ll get Express Replacement Service4and 24/7 priority access to Apple experts by chat or phone.
Theft and loss coverage requires you to have Find My iPhone enabled on your device at the time it is lost or stolen."