If your registration is suspended it is illegal for you to drive it. Valid registration or plates is required by states in order for your car to be allowed to operate on public roadways.
If you do not have insurance most states will suspend your registration meaning you cannot legally drive your vehicle. The penalty for driving an uninsured vehicle with suspended registration will vary by state but likely would be a fine and/or imprisonment and perhaps also suspension of your driver's license.
To be able to continue to operate your vehicle without the registration on it being suspended it would appear your state is requiring you to acquire at least the state minimum insurance. You can get a quote for auto insurance for your vehicle here with us so that you will not have your vehicle's registration suspended by your state's DMV.