'68 Barracuda Notch

My gas gauge hasn't worked since I bought the car and I decided if I was going to drive it, I needed it to work. I determined that the gauge wasn't bad by grounding out the wire before the sender and the needle moved. I figured the sender was bad so I ordered a new one and proceeded to install it tonight.

As I was hooking everything back up, the connector for the ground broke off (terrible picture I know).



Can I splice on a ring terminal and secure it with a nut since the stud is threaded or do I really need to have it insulated? Obviously, I can't re-splice this one since it broke right at the connector. It's possible that it was already about to break off and that's why my gauge wasn't working, but I'll never know.