Ford Figo Owners, Read This Before You Renew Your Insurance

By DosNextGen India Private Limited

For many Indian families, the Ford Figo represented affordability, practicality, and dependable performance. It was a hatchback that balanced city mobility with long-distance comfort. Even today, thousands of Ford Figo vehicles remain on Indian roads.

But before renewing your insurance this year, there are important factors worth considering — particularly if your vehicle is approaching or has crossed its regulatory lifespan.

Insurance Renewal Is Not Just a Routine Transaction

Insurance renewal often feels procedural: pay the premium, receive the policy, continue driving. Yet for ageing vehicles — especially diesel models beyond 10 years and petrol models beyond 15 years — the equation changes.

Under prevailing norms, such vehicles are classified as End-of-Life Vehicles (ELVs). In several regions, particularly across Delhi NCR — including Delhi, Haryana, Uttar Pradesh, Rajasthan, and areas such as Hapur (Delhi NCR) — enforcement around ageing vehicles has tightened significantly.

Before renewing insurance, owners should assess:

Whether the vehicle remains legally operable in their region
Rising premium costs relative to vehicle value
Increasing maintenance expenditure
Fuel inefficiency compared to modern alternatives

In many cases, the cost of maintaining and insuring an ageing vehicle may exceed its residual utility.

The Depreciation Reality

As vehicles age:

Market value declines sharply
Insured Declared Value (IDV) reduces
Premium-to-value ratio increases
Spare parts availability becomes inconsistent

With Ford having ceased manufacturing operations in India, sourcing parts for older Ford Figo models may become progressively more challenging. This can influence repair costs and claim settlements.

Insurance renewal should prompt a broader financial review: Is the vehicle still an asset — or has it become a liability?

Environmental and Compliance Considerations

Older Ford Figo models were manufactured under earlier emission standards. Compared to Bharat Stage VI (BS-VI) compliant vehicles, they:

Consume more fuel
Emit higher levels of pollutants
Offer lower environmental efficiency

Retaining high-emission vehicles undermines broader environmental goals and may expose owners to operational restrictions in certain zones.

Insurance coverage does not override regulatory compliance.

Evaluating the Alternative: Responsible Vehicle Retirement

If your Ford Figo has crossed its permissible age threshold or is nearing it, responsible scrapping may be a financially and legally prudent decision.

DosNextGen India Private Limited operates a government-approved Registered Vehicle Scrapping Facility (RVSF), ensuring:

Secure deregistration
Scientific dismantling
Environmentally compliant disposal
Structured recycling of metals and components

Upon scrapping, owners receive a Certificate of Deposit (CoD) — commonly referred to as a Vehicle Scrapping Certificate.

The Certificate of Deposit (CoD):

Confirms lawful dismantling
Protects owners from future liability
Enables eligibility for potential benefits when purchasing a new vehicle

Through DOSNEXTGEN INDIA, the Certificate of Deposit (CoD) formalises the conclusion of your vehicle’s lifecycle while aligning with regulatory norms.

A Practical Financial Perspective

Before renewing insurance, consider:

Annual premium vs. current resale value
Maintenance frequency and repair costs
Fuel consumption efficiency
Legal lifespan compliance

If the cumulative cost of retention outweighs functional benefit, scrapping through an authorised facility offers structured closure and potential financial advantage.