Its not about falling on the ground. If you got one of the M1’s with the screen issue, you would wish you had AppleCare+. I have never bought it, but I will this time. Brand new machine with a whole new structure..
You can probably get full replacement coverage from Allstate including theft for about $40 a year added to your home owners or rental policy. I may do that instead of AppleCare+. I will probably do that. I did it for my $4000 canon camera.