"Thus no insurance consequences..." I have long thought that insuring a vehicle is crap. Insurance should be carried by an individual like a license. If you don't drive you don't need it. By law if you borrow a vehicle and it does not have insurance you are at risk of a fine.
The wreck or tickets you get goes on your record not the cars so why put insurance on the car?
Also, what about rich guys that have five cars? Why should they have to pay five premiums to insure five cars when they can only drive one at a time?