Who was At Fault in the collision? Why were you driving a vehicle that was not insured. Surely the drivers license test in your state asked you specific questions about insurance and you had to know that driving while uninsured is illegal. If you were at fault you are PERSONALLY responsible for the car and the damage that you caused. While the victim may go after both you AND the owner of the vehicle, legally you are responsible.
In the UK if the accident was your fault you will be liable, but if you were driving the vehicle with the knowledge of the owner - the owner too is liable and in turn his insurer will indemnify a claim. UK and European law tries to track back to a motor insurance company so that a innocent victim receives the correct amount of compensation. Driving without insurance is a criminal offence, but if the accident was not your fault you should not be liable for injury and damage to another's vehicle. To establish fault in a car accident see the related link.
