There is
no legal requirement to carry your license, proof of insurance, inspection certificate, or car registration with you when driving here.
As noted though, if stopped by a police officer he may give you a slip which requires you to show the relevant items at a police station of your choice within 7 days.
I usually carry everything in my car anyway, as it just seems more sensible to have everything to hand if required.
but i do carry proof of insurance in the car. I have it in my head that i would need that if i were in an accident, but i dont really know for sure...
You need to exchange details of your insurance with the other driver, but there's still no legal requirement to actually have the certificate with you. If you don't have the details to hand in the unfortunate event that you are involved in an accident, all that you can do is let the other driver have your name, address, vehicle license number, etc. The insurance companies will sort it all out afterward.