Eu não sou especialista, estava dando uma olhada nos termos e condições e pra mim parece claro que morando no Brasil certamente vc teria problemas com o serviço. Veja o que fala no site:
O Brasil não esta incluido...e caso vc tenha conseguido (por algum motivo) contratar ....vc teria que estar em um desses Paises cobertos para que pudesse receber o novo device...enfim. Se fosse vc esqueceria isso e buscaria outras opções de seguro aqui em terra brazilis mesmo. Abs
International claims
If your iPhone is lost or stolen while you are traveling, we can ship your replacement iPhone to you on the road. If you're overseas at the time, we can even ship a replacement to you in any country where Theft and Loss coverage is available. International replacement of lost or stolen devices is subject to device availability, and options may vary by region and iPhone model or color. It may take up to 4 business days after your claim is approved for your replacement iPhone to be delivered.
Available countries
Australia
Austria
Chile
Denmark
Finland
France
Germany
Italy
Ireland
Japan
Netherlands
New Zealand
Norway
Spain
Sweden
Switzerland
United Kingdom
United States