For as long the contract is valid, whenever the vehicle (car or bike) has plates, you will have that insurance.
You can cancel only at the end of the contract with 3 or 4 month notice (don't remember), or after a claim (I think).
The contract is also cancelled when you take your registration grey card to the STVA for cancellation so someone else can register the vehicle on their name.
Best choice is to transfer the vehicle to friend/wife/someone, and then insure it with you as the main driver. Who owns, who is the insurance policy holder and registered person on the grey card, and who drives the vehicle/bike, can be 3 different people respectively.
If you declare to the insurance company who is the main driver then you are 100% legally covered