It will depend upon state laws but in many states you can indeed have your license suspended if you do not pay, or at least work out a payment plan, for the damages you caused to the other party in the accident.

For example the Florida Department of Highway Safety and Motor Vehicles (HSMV) states that if you are at fault in an accident causing property damage but not bodily injury in FL and are uninsured you should negotiate with each person that sustained property damages to obtain releases for their damages.

If the person you hit is insured, you should negotiate with the person's insurance company as the company assumes the rights of compensation since they have reimbursed the insured for their loss (subrogation). You can obtain a release form from your nearest driver license office.

If you are unable to pay the amount of damages in full, you may pursue a monthly payment agreement. With the insurance coverage and releases or monthly repayment agreements you will be able to provide them upon notice from the department to avoid unnecessary suspensions of your driver license, tags, and registrations.

To find out if a suspension is possible in your state, if you do not pay the other party's insurance carrier, contact your Department of Motor Vehicles. They should also be able to advise you if other penalties may also apply, such as your registration also being suspended.