AppleCare Plus + repair options for accidental damage?

I fell and damaged the corners of my MacBook Pro 16 M1 Max. Thankfully it had a case on it and besides some dings it appears to be okay. However I’m a bit worried maybe I damaged more. I have AppleCare Plus but it’s ending later this year. If I pay the copay for accidental damage, what will Apple do exactly? If they just replace the chassis, that doesn’t seem worth it, but if they will replace everything, that would be great for peace of mind. Just curious what others have experienced in real life with Apple? I actually purchased the machine on Swappa, but have the original receipt, in case that matters.

As an aside, I’ve had two warranty claims with Apple before on MacBooks. One was a motherboard issue on my old 16 i9, couldn’t get the machine to boot, so they replaced the whole logic board under standard warranty. Another was a battery service for an old 15 i7, it seems like they ended up replacing the logic board and battery together, which was especially nice since the speakers weren’t working well on it already (coffee damage). Overall I’ve been really impressed with Apple’s service for the most part.