From Apple Support's webpage:
Every Apple Watch, Apple Watch Nike, and Apple Watch Ultra comes with one year of hardware repair coverage through its
limited warranty and up to
90 days of complimentary technical support.
With AppleCare+
AppleCare+ for Apple Watch, Apple Watch Nike, and Apple Watch Ultra extends your coverage
3 and includes unlimited incidents of accidental damage protection. Each incident is subject to a $69 service fee plus applicable tax for Apple Watch and Apple Watch Nike, and $79 service fee plus applicable tax for Apple Watch Ultra.
2 In addition, you’ll get 24/7 priority access to Apple experts by chat or phone.
Every Apple Watch Edition and Apple Watch Hermès comes with two years of hardware repair coverage through its
limited warranty and up to
two years of complimentary support.
3
With AppleCare+
AppleCare+ for Apple Watch extends your coverage
3 and includes unlimited incidents of accidental damage protection. Each incident is subject to a $79 service fee, plus applicable tax.
2 In addition, you’ll get 24/7 priority access to Apple experts by chat or phone.
More information including pricing is included on Apple Supports AppleCare+ website. Click on the link above.