JRMINIQUAD, Maybe someone in the business can chime in with regards to insurance, but just having just a VIN # I would guess that the insurance company is assuming you actually can prove you own it in the event you want to file a claim. Case in point. My brother sold his bike that he bought new. Title in his name since it came from the dealership. Fast forward a year or so and he gets a call from the police wanting him to come down and get his bike as it was recovered. It got stolen from the guy who he sold it to. He explained that to the police. The police said, since it was in my brothers name, it was his bike. If he wanted it, he could come and get it. He had the contact info of the guy that bought it, but the police said the state thinks it is yours, not his. If you want it, come and get it. If not, it would go to auction. Plan and simple.
My point is this: Would you buy a bike without a title?