iPhone stolen covered by AppleCare+ with theft and loss

I'm thinking of buying an iPhone, however I would like to protect it with an insurance policy and, by reading the terms of the AppleCare+ contract, I Was wondering: if my iPhone, covered by AppleCare+ for theft and loss, was stolen and at the moment of the theft "Find my" is enabled, but the thief turns the iPhone off when I still haven't finished the claim process, is the phone still covered by insurance? Also, can the thief turn the "Find my" app off? Is this insurance policy worth it? Thanks!