You may want to keep liability on you in the form of a non-owners policy. In some states you are required to carry auto insurance to obtain and renew your driver's license so the non-owners would help you to maintain your license.

Another reason to acquire a non-owners policy would be have your own insurance on you while driving a friend's borrowed car. The non owners policy would work as secondary or excess liability coverage if you are in an accident and the damages extended over the car owner's limits.

Also by keeping liability insurance instead of canceling all of your insurance coverages you will not have a lapse or gap in insurance coverage. Sometimes when you have had a gap in auto insurance coverage it can be difficult to get decent rates when you decide to obtain insurance again. Having prior insurance can give you a discount on a new policy. Some companies in fact require you to have at least 6 months of prior insurance.