Insurance after notifying of intention to VT car

[Danedin]

Hi guys

I have just notified finance company I wish to VT car. They say due to covid, there is a backlog and may not be picked up for up to 5 weeks. Also to keep insurance until such time

What are my rights?

I have a new car so wish to end old insurance asap. Old car will be kept in private drive.

Do I need to keep insured?!

Thanks

[des8]

As vehicle is off road I would SORN it, cancel insurance and advise finance house of the position.
It is their vehicle and you are now a bailee. You only have to take reasonable care. Insurance is their responsibility.