Rental cars have a reputation for being boring, workaday vehicles chosen (probably) because they’re affordable to buy and maintain. But where does that leave a car enthusiast travelling somewhere by air who would prefer to drive something more interesting when they reach their destination?
That’s a question for which classic car insurer Hagerty thinks it has an answer: its just-launched DriveShare peer-to-peer vehicle lending service lets the owners of vintage and collectible cars rent their vehicles to interested drivers.
While the concept wasn’t Hagerty’s idea – that credit goes to Peter Zawadzki, founder of Classics&Exotics, which Hagerty purchased and rebranded – they liked it enough to bring Zawadski on to run DriveShare, which is most easily described as Airbnb or Vacation Rental by Owner (VRBO) for classic cars.
Just as those companies facilitate the short-term rental of apartments, condos, and houses to travelers, DriveShare allows “people an easy way to get behind the wheel of cars they’ve always wanted to drive,” according to Hagerty boss McKeel Hagerty.
At the same time, Zawadzki said part of the idea behind Classics&Exotics was to help owners of these cars offset the often hefty purchase, maintenance, and insurance costs involved in owning a collectible car.
Naturally, there are some questions and considerations that come to mind: What if the car breaks? And how are vehicle owners protected from careless or hapless drivers?
Each rental comes with $1 million in insurance protection, every rental includes 24/7 roadside assistance, and all renters are subject to a background audit. The vehicle owner sets the rental price, and can turn down any rental request that gives them a bad vibe.
Naturally, there’s something in it for Hagerty, too. According to Zawadzki, “it’s a great way to bring more people into the hobby.”
“What we’ve seen is that people who rent these cars often become classic car owners themselves,” he explains, which no doubt will help solidify Hagerty’s position as the self-proclaimed “world’s largest specialty insurance provider for classic vehicles of all kinds.”
At the moment, there are 134 cars listed for rent in the United States, including the likes of a 1931 Ford Model A for $179/day, a 1960 Jaguar Mk IX for $500/day and a 2014 Rolls-Royce Ghost for $1,199/day. There are no cars yet available in Canada.