Help, i lost my ipod touch 4th gen on the bus. and i am wondering if apple would cover this on insurance?

so i lost it on the bus and i know someone will take it because of the place i live in. what would be the best option to do been as i have already phoned the bus company.

Apple does not provide insurance for lost iPods. Unless you had insurance from some other source - such as a credit card plan that covers such losses, or homeowner's insurance, or a separate policy, you'll have to buy a new iPod from your own funds.
If you set up the Find My iPod service prior to the iPod going missing, then there is a chance that can be tracked, though it depends on a number of factors (the iPod is turned on, connected to a WiFi network, and has not had the Find My iPod service disabled or the iPod been completely restored). You can then give that tracking information to the police, though it's highly doubtful they'll take any action.
If you did not set up Find My iPod, then there is no way to track it. Contact the police just in case some honest citizen turns the iPod in, and change any passwords for any online accounts you may have used from your iPod (the iTunes Store, for instance). 
Regards.

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