I had a similar issue a few years ago, NJ is very laid back, mostly because how govt. works here or better yet how it doesn't do anything..left hand doesn't talk to the right hand. As long as it's currently registered, u should be good. Insurance companies don't talk to the state. But I would try to keep insurance on it, do just liability if possible instead of both collision and liability.
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1986 Chevy Caprice Station Wagon (RIP)
1989 Pontiac Trans Am GTA (RIP)
1998 Pontiac Trans Am
 "I can't fix stupid, only broken"
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