You will need to turn-in your plates in person at the nearest DMV location the same day that you cancel your insurance. It costs $1 and doesn't require any waiting. If you don't turn them in, NY State will assess and charge you $8/day for each day that you are not properly insured. The insurance companies electronically notify the state when your insurance has been cancelled.
You need to turn them in asap to avoid civil penalties for every day they are not turned in. I hope this helps.
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