AppleCare+ for New 16-Inch MacBook Pro Costs $399
AppleCare+ for the new 16-inch MacBook Pro is priced at $399, which is a $20 increase over the cost of AppleCare for the prior-generation 16-inch model. AppleCare+ for the 14-inch MacBook Pro is priced at $279, which is a $10 increase over the cost of AppleCare+ for the prior-generation 13-inch Intel machine.

Those who are picking up one of the new M1 Pro or M1 Max MacBook Pro models may want to consider AppleCare+ given the high price of the machines and the fact that they are the first generation of a new design, which can sometimes lead to issues.
AppleCare+ extends repair and support coverage for a MacBook Pro to three years, along with protection from two incidents of accidental damage every 12 months. For accidental damage, a deductible must be paid, but for manufacturing issues, Apple will cover repairs at no cost.
While AppleCare+ is priced at $279/$399 for the new Macs, there are also renewable annual payments available at $150 for the 16-inch machine or $100 for the 14-inch machine, which will continue to be available until canceled. Apple also allows Apple Card customers to pay AppleCare+ fees in monthly installments.
Apple has not provided details on what it will cost to repair a 14-inch or 16-inch MacBook Pro outside of the warranty period and with no AppleCare+. AppleCare+ can be purchased when buying a new MacBook Pro or within 60 days of receiving one of the new machines.
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Top Rated Comments
i know this is an unpopular opinion but the money I saved by not paying for AppleCare has saved me money that can buy me several new Apple gadgets already over the 15 years of owning Apple products. If there is any manufacturing defects from Apple, it’s their fault and they should cover it or recall the product. I’m not going to pay 20% more for a feeling.
Also FWIW, while I'm generally a believer that getting extended warranties from most companies are not worth it, if it's ever worth it, I think it's with AppleCare+. Partially because of difficulty / cost of repairs (which others have noted). But also because in my experience, Apple and AppleCare+ differs from almost every other Company's extended warranty program, where they're trying to find a way to DENY your claim. In my experience, Apple goes out of their way for their AppleCare+ customers to find a way to APPROVE your claim. As long as you're reasonable and don't treat the Apple employee terribly / give them a reason not to help you, I've found they're extremely generous and want to find a way to approve claims.
It's not for everyone (definitely can't make a blanket statement that everyone should get it). And there are many small factors along the edges that may nudge one way or the other (% cost of new price, likelihood there might be an issue (Eg. Gen 1 of new design), total $ cost of a repair and whether that would really hurt your finances, your mental temperament and potential peace of mind / less stress of having it and knowing you're covered for a big expense, how clumsy you are, whether the device is mostly just used at home or you commute with it frequently, whether you have little kids / pets who might damage vs you live alone / all-adult household, etc.)
If there was a manufacturing problem, or design defect, Apple pays. I took them to court once over the Butterly Keyboard and won.
The more expensive they make these laptops, the more people say "expensive insurance is worth it" .. it's a beautiful scam.
I just had my 2015 MBP battery replaced.. for £200 in the UK. That's not bad in the 6th year of use. And it comes with a new keyboard and trackpad when they do this.