CAR FINANCE (HP)AND FULLY COMP INSURANCE?

HI I GOT A 2 YEAR OLD CAR ON FINANCE, AND WHEN I BOUGHT IT THE GUY AT THE DEALERS SAID ''MAKE SURE YOU KEEP FULL COMP INSURENCE ON THE CAR'' ....BUT IN THIS RECESSION I COULD BE BETTER OFF TAKING THE INSURENCE OFF FOR A FEW MONTHS , BUT I STILL WANT THE CAR OBVIOUSLY..... DID HE MEAN TO SAY THAT IF I STOP THE INSURANCE , THE CAR WILL BE TAKEN BACK EVEN THOUGH IM CONTINUING TO PAY FOR IT??? OR SOMTHING WITH THE GAURANTEE?? OR BACK UP INSURANCE POLICY WHICH PAYS FOR THE SHORTFALL BETWEEN MY INSURANCE COMPANYS CLAIMS FEES AND SOMTHIN ELSE IVE FORGOTTEN , SO IN SHORT , WILL THEY TAKE THE CAR OFF ME IF I TAKE MY INSURANCE OFF THE CAR???? THNX