Can I cancel T-moblie protection plan for AppleCare?

I have T-Mobile protection 360 for my iPhone 12 pro. The protection plan comes with AppleCare but its too expensive. If I were to cancel my T-Mobile protection plan would I be able to purchase AppleCare? Because right now my phone says I am covered so I cant purchased AppleCare at the moment. I have only had the device for a week and a half.