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AppleCare+, the third replacement?!

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Hi guys,
First I tried to make sense of Apple's legal jargon, but couldn't figure it out.

Now here's the situation. I had a stupid moment dropped my iPhone, and luckily AppleCare+ will do my replacement for $50.

What I'm slightly worried about, is Applecare+ has 2 replacements, thus leaving me one left over. Now just in case, I break it again (or someone else does), what happens on the 3rd one?

Does my AppleCare+ go void? Can I extend it and buy a new one? Is only the 2 replacements only fulfilled?

Of course I don't plan on breaking it again (I've had every generation since the 1st one, and this is my first break), but I always like to know, what if.

Thanks guys, and for the guys who want to call me a klutz go ahead if it makes you feel better, but I'd love to know the answer to these questions first.

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