AppleCare+ For One Year Only?

Starting with the upcoming iPhone 5s I will be upgrading my phone every year as opposed to every other year.  I am trying to decide if I want AppleCare+ or ATT Insurance for my device.  I understand AppleCare+ extends your warranty to 2 years from 1 (and 2 years of phone support that I do not need.) However, if I am only going to keep the device for one year is there any advantage to purchasing AppleCare+?  I understand you get refunded a prorated difference from Apple.  What else?  Are they deductibles and quality of service for damage different

Yes, I understand you cannot just buy it for one year, I will just be upgrading every year so the second year does not matter. It does look like Apple will provide a pro-rated refund if you sell it back.  Thank you for the information on the lack of accidential coverage without AppleCare+, that is exactly the type of information I was looking for.
I am also trying to decide between ATT Insurance and AppleCare+, if anyone has any experience with ATT covering accidential damage and how they compare to Apple I would appriciate it.
Thanks everyone!

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