Kevin Lee Jones admitted both offences and also had his licence endorsed with six penalty points.
Prosecuting advocate Kate Alexander told the court that police stopped Jones while he was driving a Vauxhall Vivaro on August 23, on the A18 Mountain Road, at Brandywell Junction.
His tax had expired on May 31 and Jones told officers that the insurance had also expired a month ago.
The vehicle was subsequently seized.
The court heard that the tax has since been backdated.
Defence advocate Kaitlyn Shimmin asked for credit to be given for her client’s guilty plea and said that he wanted to apologise to the court.
Ms Shimmin said that Jones had split up with a partner, who had previously organised the documentation.
She said that her client did have another car that was taxed and insured but had been using the Vivaro to transport ladders.
Magistrates fined Jones, who lives at Governor’s Road, £650 for having no insurance and £160 for the tax offence.
He must also pay £50 prosecution costs and will pay all amounts at a rate of £25 per week.