How to tell if the Apple hardware is covered by AppleCare

Troubleshooting MagSafe adapters

Whether your product is in or out of warranty, you can take your adapter to an Apple Authorized Service Provider or Apple Retail Store for evaluation and replacement if necessary. Pending the results of the evaluation, you may or may not be eligible for a replacement adapter free of charge. Signs of accidental damage would negate any coverage. Be sure to bring in the computer used with the adapter; it is required to process potential adapter replacements.

So there are competing things at play. If your cable is otherwise pristine, no bends, no mars, no scuffs and it's clearly not worn - you might think that this split could be caused by either abuse/nick/cut/carelessness or perhaps not holding up as designed. If the rest of the adapter cord is worn and starting to show normal signs that it's just wearing out (no cord lasts forever, especially when wrapped, unwrapped, tugged) you might be asked to pay for a replacement if it's not clear the physical separation was a defect in manufacturing.

If Apple didn't make the cable correctly, it's likely it would fail immediately, but the longer the time that passes until you take it in for service, it's more likely to be an external force causing the tear. Usually by inspecting the rest of the cable (not pictured) you will see other signs of excessive force so absent those signs of stretching and tearing, this might be covered despite what looks like an obvious cut/rip due to a tug.

Apple provides a standard warranty of one year on all the products they sell. You may purchase AppleCare any time within that one year period to extend your coverage, which for Macs is two additional years, for a total of three. The total coverage period begins from the date of purchase of your MacBook.

Waiting to buy it means you have money in your pocket, but go without phone support once your 90 day complimentary support expires. Your coverage is pinned to the date of purchase of the Mac - not of the plan. Also, Apple offers a pro-rated refund if you wish to cancel the plan before it's term is due. This is handy when you sell and the buyer doesn't want that protection or something like a loss or uncovered accident means you don't want to repair the out of warranty issues to benefit from the plan going forward.

This is the route I tend to do, as I never need phone support, and the cost of AppleCare is usually around $200 more. Of course, you run the risk of forgetting and not getting it, as I have done on more than one occasion.