Applecare and Applecare plus?

My ipad is under the standard 1 year apple warranty, but it is soon to expire. The screen has been badly damaged. I understand that this warranty does not cover accidental damage, and for $250 (it is 16gb ipad2) I may replace it for a new or refurbished one as long as it is under warranty. However, I have seen that applecare plus covers accidental damage for a $49 fee. Would it be possible for me to buy applecare plus which is $99 from what I have seen and then pay the accidental damage fee? So I would end up paying $150 rather than $250? Is this possible or am I mistaken

Apple's Limited Warranty http://www.apple.com/legal/warranty/ for iPad excludes coverage for damage resulting from accident, disassembly, unauthorized service and unauthorized modifications.
Apple will provide a replacement iPad for:
iPad model
Out-of-Warranty Service Fee
New iPad
$299
iPad 2, iPad
$249
Make a Genius Bar Reservation
http://www.apple.com/retail/geniusbar/
You can get the glass replaced at 3rd party repair sources for less $, however, the Apple warranty will be voided.
iPad Repair & Screen Replacement Services
http://www.ifixyouri.com/16-ipad-repairs
RepairZoom iPad Repair
http://www.repairzoom.com/ipad-repair.html
Mission Repair
http://www.missionrepair.com/Apple_iPad_Repair_Services_s/431.htm
iGadgetResQ
http://www.igadgetresq.com/ipad-repair/
 Cheers, Tom

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