I have new Apple Watch and it fell off at the airport. Does plan coverage cover this?

Sorry to hear! Was it already paired with your iPhone and if so have you tried to locate it yet?

If your Apple Watch is lost or stolen – Apple Support

Found Apple I watch in my luggage outside pocket 6/27/21 at Newark Airport. Discovered still charged 4 days later. Thinking g TSA agent going thru bags lost it or somehow thought it belonged in my bag? Men’s watch