Applecare on a Macbook?

Is it worth purchasing applecare on a new Macbook. I will be a freshman in college, and it seems like a good idea that if anything goes wrong that I have insurance on my computer seeing how it will be used and abused. My dad however thinks that it is a waste and just another way for Apple to make money and it is useless. Does anyone have any relevant information to share on this subject? I believe it will be worthwhile.

Please use search, this has been discussed many, many, many times.