The tricky part of the AppleCare+ coverage for accidental damage is that the repair costs may not be as simple as you expect. Apple separates the accidental damage for a laptop into two categories with different repair costs for the user.
If just the Display is damaged, then it is one price (I think $100 US lets say).
If the damage is to any other part than the display, then the repair cost is more expensive (I think it is $300 US, at least for showing my point here in a minute).
Now lets say the liquid damaged both the Display and some other component like the keyboard. The repair cost will be a combination of the Display cost AND the "Other" cost which in my example would be $400 US total ($100 Display + $300 other). I know this for a fact because our organization had AppleCare+ coverage for a damaged laptop where this occurred. This is not exactly clear in the AppleCare+ article @Phil0124 links, but you can sort of parse this information out of the article by noticing the article does separate out the Display from the Other components. So if you ask yourself, what if the Display and something else is damaged, you can see that adding the two costs together would cover the whole laptop. It is a bit deceptive on Apple's part in my opinion as this should be explicitly spelled out on the main page. You can see this is the case by reading the actual AppleCare+ Terms in section 3.2 of the US based contract found here:
https://www.apple.com/legal/sales-support/applecare/applecareplus/2205/220606_applecareplusmac_us.pdf
Here is a screenshot of the relevant section, but even this seems to be a bit misleading as well as the explanatory text beneath the table implies a total cost of just $300 if everything is damaged, but if you look at the table for "Tier 2" it explicitly states "All other damage" implying all other damage excluding the Display from "Tier 1" since "Tier 2" never states that it covers both "Tier 1" and "Tier 2" components:
Also, the "External Enclosure" damage mentioned in the article is actually referring to the Display Assembly's metal housing (the back of the Display and not the palmrest or Bottom Case of the laptop). Again, this is from a personal experience. Basically "Display" and "External Enclosure" as regards to the laptop is one and the same thing.
I know there may be some who will claim I am wrong on this point because the information Apple posts here is definitely ambiguous, but I do know what they charged us when both the Display and another component on the laptop were both damaged. Basically "Tier 1" is the Display part (or lid) while "Tier 2" is the base or lower part of the laptop (palmrest/keyboard section and everything inside it). Top part costs $100, Bottom part costs $300. Both parts combined will cost $400.
Hope this helps.