Apple insurance on another phone?

Hey guys , I’m currently paying monthly for my iPhone, and have apple insurance on this phone. However I would like to give my phone to my partner so she can upgrade, so I can get the newer one. If I pay monthly for my phone can I cancel the insurance? I pay for insurance and the phone each month in one direct debit, so can I cancel this insurance? Or is it possible to give her the phone with my insurance on it, then purchase a new insurance on the new phone or will it not allow multiple apple care products on the same account? Any help or answers would be greatly appreciated thank you