Confused about what’s covered under my iPhone 17 Pro warranty

The warranty is for service and repair for up to one year post purchase. It also includes 90 days technical advice though I have found that Apple is more lenient about that. What exactly you get may depend upon your country so although it is long I suggest you read the appropriate warranty version for your country. Click on this link to take you to the page about Apple warranties, then select your device and country --> Legal - Hardware Warranties - Apple

That's the basic warranty. There are also various kinds of extended warranties: Get AppleCare coverage for your Apple device - Apple Support

As for what the basic one means let's say you don't understand how a feature works. You can call Apple and ask them (nominally 90 days but they may be willing to help you for longer). Now let's say that after you have it for 11 months the screen starts having issues. Take it to Apple before a year is over and they will replace it with a refurbished model (usually) that doesn't have a screen issue. Now let's say that you drop the iPhone and the screen breaks. That is not covered by the basic warranty and you will have to pay the full cost for replacement. If you have an AppleCare plan that includes accident coverage then you get a repair at a reduced cost (there's a limit to the number of times they will do that).

Basically, the limited warranty is for repairs related to defects in materials or workmanship and is usually for 1 year. If you want additional coverage, including accidental damage, theft or loss, you should purchase an AppleCare+ plan.

Here you can find out what is and is not covered under the limited warranty.

Apple One (1) Year Limited Warranty

The limited warranty does not cover physical damage to the iPhone or water damage. In addition, the warranty does not cover your iPhone if it is lost or stolen.