AppleCare+
When you make a claim through AppleCare is the replacement a new product or one that is refurbished to like new? Will the device be as water resistant as it was from the factory?
iPhone 11
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This is the closest I can find to an answer in the terms.
3.1 Hardware Service
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If during the Coverage Period, you submit a valid claim by notifying Apple that (i) a defect in materials and workmanship has arisen in the Covered Equipment or, (ii) the capacity of the covered iPhone battery to hold an electrical charge has depleted fifty (50%) percent or more from its original specifications, Apple will either (a) repair the defect at no charge, using new or refurbished parts that are equivalent to new in performance and reliability, or (b) exchange the Covered Equipment with a replacement product that is new or equivalent to new in performance and reliability, and is at least functionally equivalent to the original product.  If Apple exchanges the Covered Equipment, the original product becomes Apple’s property and the replacement product is your property, with coverage for the remaining period of the Plan.