Can Automobile Insurance Companies hold drivers licenses?

I purchased my first vehicle but icant dirve it off the ton till I have car insurance . I live-in mi which is a no fault insurance state. I had been looking to get full coverage on my car. but the cheapest price i found was 450 per month. 3500 was just settled by me for a 2004 monte carlo ss. I cant actually manage to pay for 450 monthly