Yes, in most cases, it is advisable to remove the plate and turn it into the Office of Motor Vehicles within 10 days of canceling your insurance.
Car plates do not transfer between individuals. However, plates for pickup trucks, motorcycles, utility trailers and boat trailers may be transferred to the new owner at the option of the seller. The seller may be “flagged” on the computer at the Office of Motor Vehicles if the new owner does not promptly pay his Tax, Title and License fees. Until the flag is cleared, the seller may not apply for a license plate or renew his Driver’s License.
An Affidavit of Non-Use may be filed with OMV before your insurance lapses or is canceled if you are planning not to use your vehicle for a specific time period. The Affidavit requires a full description of the vehicle (Year, Make & VIN) and the beginning and ending dates for the time period the vehicle is parked. You may retain the plate by filing the Affidavit.