^ This pretty much. Id assume the only way around it, would be to lie and say you sold the car, then (without telling the finance company) "Buy it back" (on paper) then insure it with liability only. But Ive never done that, as if you DID get into an (at fault) accident and wrote off the car, you'd be making payments to own a car thats essentially worthless garbage.
"The music business is a cruel and shallow money trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There's also a negative side"