IDK. You cancel and get refund but loose little. If you transfer then would only be 1 year coverage left. Might be getting okay if getting new again next year. Need to get with an AppleCare agreement administration rep. Ask directly for them.
I talked to the agreement admin advisors on the phone and they told me it is possible to transfer applecare to a new phone. to transfer, the new phone has to be the same phone. but if it is a different phone, they will prorate! i have the x and i bought applecare for it when it launched and will be getting the xs max on friday and they told me to call the agreement admin team when i get it and they will refund me the $100 and will also put the applecare on my new iphone!