Let me tell you my stories to help you make decision. I bought a new home that came with termite bonds for a year. I was told that their termite treatment will last 10 years. Like you, I thought to not renew it after third year but didn't do it. Fast forward to year 7, one day I found a mud tube inside garage wall. Termite invasion! Called my termite company, they promptly did repair, retreated the house without me lifting a finger and cost me nothing. My boss in previous job didn't buy termite bond for his house. One day he found out one side garage wall was full of termite. It cost him over $7k to replace the wall. He said he gambled and lost. He bought termite service since then.