I have the $3.99 PHP extended warranty on my line. What does it cover? Last phone used, one phone only, whatever phone I've used on my account? I know it's malfunction only, I have no problem with that.

I called to ask about exchanging my BlackBerry 9700 and the Indian rep said I haven't used it since October. Despite me being on it now, and having used it a couple days ago too - I figured maybe the system is slow to update. Then I chatted with CS and that girl said the PHP warranty is tied to my current phone (Radar 4G) and if I sell it, it will continue to be covered as it's tied to the phone and that I should remove the warranty if I sell my Radar because it will not cover any of my phones.

Does anyone have actual experience with this? I don't usually keep phones longer than a year but there are a few phones I really like (like my BB 9700 and Galaxy S II) that I have kept or will probably end up keeping past their 12 month warranty, so I thought this plan would come in handy, but if I can't ever exchange anything then no sense I have it.