As said previously that if there any changes in the insured circumstances (e.g. Visa Status Changes) then insurance company may not renew, so best way is contact ICICI Lombard customer care.

Renewal or extention rules of ICICI Lombard's Student Travel Insurance:
1- Plans are available with second year (auto-renewal) extension option, thereby covering you for the entire period of study
2- Overseas Student Travel Insurance is now available with a continuous cover for 2 years (auto-renewal) Now cover your entire period of study and rid yourself of policy extension hassles with a policy duration of 365+365 = 730 days
3- Extend your policy 3 months in advance

Terms of Renewal:
• The Policy can be renewed under the then prevailing Overseas Student Travel Insurance product or its nearest substitute (in case the product Overseas Student Travel Insurance product is withdrawn by the Company) approved by IRDA.
• This policy shall ordinarily be renewable except on grounds of fraud, moral hazard or misrepresentation or non-cooperation by the insured
• Renewal Premium - Premium payable on renewal and on subsequent continuation of cover are subject to change with prior approval from IRDA.
• The policy shall be renewed subject to the presence of the insured in Indian geographical location
• Extension under the policy shall only be possible 30 days prior to the expiry of the policy period.