Verizon Protection Plan vs. Apple Care

Apple Care coverage is tied to a specific device. If you have it on an old iPhone then it's only covering that device. It is not covering new devices.

If you bought Apple Care+ with the new devices, then you need to decide which plan you want.

https://community.verizon.com/t5/Apple/Asurion-versus-Apple-Care/td-p/1727870

As Phil0124 correctly suggests, if you had a plan on your previous phone, it didn't move to your new phone. You need to cancel the plan on your previous device, especially if you are paying monthly for it.

As to which plan you want, you'll need to decide. I would personally only buy AppleCare+ for myself. If my phone is damaged and needs to be replaced, I'd want a replacement phone from Apple directly because it would have been refurbished by Apple directly.

click here ➜ Cancel or change the payment method for your AppleCare plan - Apple Support