I believe my VM contract is going to expire soon. Should I need ask VM to renew or it will be renewed
automatically? In both the cases how many months it will be renewed?Another 12 months or it will be renewed 30days rolling contract? Should I need to pay the same amount what I am paying currently or will it differ?
You dont need to renew contract, you will carry on paying and receiving the same services once the contract has run out and still be bound by the same terms and conditions of your packages.
The only difference / upside of being "out of contract" is you can leave Virgin Media at any time (giving one months notice I think) and not being locked in for months or having to pay penalty fees for leaving within a contract period like some others if you develop ongoing issues with your services.