iPhone owners in Australia and the UK can now get iPhone loss and theft coverage when they purchase AppleCare+ plans.
Apple has always offered this kind of coverage but only to customers in the US, Japan and Germany. AppleCare+ works like an insurance against accidental damage, but subscribers could potentially get a replacement iPhone for the one that was lost or stolen at a reduced price.

iPhone loss and theft coverage has the same terms and conditions as the US in both markets.
The cost will vary depending on the iPhone model. The iPhone 13 Pro, for example, could be bought for a 239GBP one-off or 11.99GBP monthly fee. For an iPhone 12, the cost is 139GBP outright or 6.99GBP per month. Price fluctuation is to be expected due to regional market and economic differences.
The one-off fee for the iPhone 12 is $30 more for the UK region and $35 less in the Australia region.