It depends a lot from state to state as far as what its required by the insurance company and whats optional... in MA you NEED liability (covers damage YOU do to OTHERS), the rest is optional. I got comprehensive as well which covers theft and fire I believe. The cheapest way is to register the car under a older more experienced driver and have them have you as a secondary driver. But I dont think that is an option for you... anyways, heres what to do to get your car on the road legally.

#1 buy it etc... and get the OLD title
#2 bring old title to insurance company and purchase insurance
#3 bring proof of insurance purchase + old title to RMV
#4 purchase new registration and get new plates (or use the old ones if you're transferring) and attach to car and you're good to go.

At least thats what I did... good luck and I know you're dying to get your car on the road