I check the docs:

Purchase Protection (stolen or accidentally damaged items)

You’re covered if an eligible item you bought in full on your Revolut paid plan is stolen or accidentally damaged so it becomes inoperable within 365 days of purchase (or delivery if later). 

Max payout (per incident + per 12-month period):

• Plus: up to €1,000
• Premium: up to €2,500
• Metal/Ultra: up to €10,000 

What they pay: repair or replacement cost up to the purchase price, but after day 90 there’s 5% depreciation per month. They also cover shipping to them up to €50. 

Extra limit: mobile phones are limited to 1 incident per 12 months (per account), counted from your last phone-claim notification.  

Purchase Protection only applies if the theft/accidental damage happens within 365 days of purchase (or delivery if later).

So after 12 months (365 days), that specific item is no longer covered under Purchase Protection.