Because you ran out of time, that would normally mean a loss. But in this case, since black has insufficent material to checkmate you, the rules kindly give you a draw.
Explanation - Insufficient Material Glitch?

Wait... would this happen OTB as well? If you don't checkmate in time and your opponent has insufficient material, I mean.
Fide laws of chess:
10.5
A player having a bare king cannot win the game. A draw shall be declared if the opponent of a player with a bare king oversteps the time limit (Articles 10.13 and 10.14) or seals an illegal move (Articles 10.16).
Well of course, where do you think the rule comes from? Though an arbiter may be required.
EDIT: Ninja'd.
Wait... would this happen OTB as well? If you don't checkmate in time and your opponent has insufficient material, I mean.
i just lost this game on time when my opponent only had a knight. shouldn't i get a draw?
http://www.chess.com/livechess/game.html?id=56907047
Wait... would this happen OTB as well? If you don't checkmate in time and your opponent has insufficient material, I mean.
i just lost this game on time when my opponent only had a knight. shouldn't i get a draw?
No, because even with only a knight he could potentially use your pawns to checkmate you (a helpmate). In the original game this was not possible as black had only his king

to ultraproro..
you did lose. you lost on time and had no chance of checkmating the other player. Had you more time the logical conclusion was to be loss.
Otherwise people is a situtaion like yours would just let the clock run out even ( lone king vs. king and queen would always be a draw as the player with the lone king would not move and let his time run out.
Had the other player run out of time first then it would be draw as you had no chance to beat him.
Thanks - I'd forgotten it was theoretically possible that he could win by trapping me against my pawns. However, surely it isn't the case that the expected outcome is that I would lose with more time as forza said?
Thanks - I'd forgotten it was theoretically possible that he could win by trapping me against my pawns. However, surely it isn't the case that the expected outcome is that I would lose with more time as forza said?
Of course not.
White certainly is better off than black. Black's knight and king will have a hard time trying to prevent white from getting a new queen.
Can anyone explain why this game was automatically determined a draw for insufficient material? I have a queen, bishop, etc.