When i was younger insurance was required in several of the states I lived in, however you could put down like 5 or 10 grand in a bond type of arrangement instead of insurance,

Now the thing is, the bond makes you money until you get in a wreck and have to use it, no wreck, bond just collects insurance. check your state laws, it would be cheaper to get a loan for 10k, put in in a bond vis a vis the insurance, (and of course don't get in a wreck) and 2 years later (if you are truly paying 5k a year for insurance) you could have paid the bond off and have 10+k in the bank (if they still allow bond in lieu of insurance)

kenn