While much of the automotive industry is focused on future mobility and its many facets, Hagerty is aiming to bring a splash of the modern era to classic cars. The classic car insurance company has announced DriveShare, which takes the concept of renting cars via an on-demand service to vintage vehicles.
Hagerty says DriveShare brings the "sharing economy into the car lover's garage" and promises a wide range of unique vehicles for rental purposes. Those who are familiar with the concept of Turo, a service that lets people rent locally from individual owners, will be right at home with DriveShare.
To be fair, the concept isn't new. Hagerty purchased a company by the name of Classics&Exotics that already offered car sharing for classic vehicles. Hagerty should be able to give the company the scale and a well-trusted name to help it succeed.
It's not as simple as some car sharing and rental services, however. Hagerty's DriveShare program requires renters to be at least 30 years old, put down a $500 security deposit, and fill out an application. Not just anyone will be handed the keys to an individual's iconic car. It's not exactly inexpensive either. Starting rates hover around $300 per day for some cars listed. Hagerty will also provide $1 million in insurance and 24/7 roadside assistance for each car that a collector or owner decides to rent out.
But, if someone has dreamed of piloting a vintage sports car or classic muscle car along their favorite stretch of road, $300 is a lot less than the cost of buying one of your own.