I got caught when I sold a bike and since it was close to the expiry of the insurance policy I just called in and left a message. When the renewal came I just put it in the circular file.
Fast forward and I find I am going to have the policy cancelled by the insurance company. OK so forever and ever when I want to get an insurance quote I have to answer yes to the question, Have you ever had an insurance policy cancelled? Want to see what that does to your rates and BTW there is no space for an explanation.
To straighten things out I got to purchase the policy, provide documentation that the bike was sold when I said it was, cancel the policy and await my refund minus a holdback. This was the least expensive option by far and wasn't accomplished easily.
Here's my advice, sign the paperwork properly, follow up with a phone call and save yourself a few headaches down the road.
If not then I look forward to your future rant ....VBG