Traverse City-based Hagerty, a global network for car and collectible vehicle enthusiasts, today announced the acquisition of Classics&Exotics, a peer-to-peer online marketplace for classic cars. The service has been relaunched as DriveShare by Hagerty and creates a platform for car lovers to expand their community.
“DriveShare gives people an easy way to get behind the wheel of cars they’ve always wanted to drive,” says McKeel Hagerty, CEO of Hagerty. “Our goal is to provide a common platform that connects enthusiasts and owners to expand the community of people who love cars.”
Founded in 2014 and headquartered in Cape Cod, Mass., Classics&Exotics is known as the Airbnb of vintage and exotic cars. The service connects car owners with pre-screened, highly qualified motorists seeking a unique driving experience or a specialty vehicle for special events.
“I started this company so people could try out these amazing vehicles and owners could make a little money to defray the cost of ownership, and that’s still the mission today for DriveShare,” says Peter Zawadzki, founder of Classics&Exotics who has joined Hagerty as director of DriveShare. “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.”
DriveShare is Hagerty’s latest evolution since its founding in 1984 to sell specialized insurance to owners of wooden boats. The company is now a global provider of specialty insurance for classic vehicles of all kinds, and the Hagerty Valuation Tool is used by the vintage car community to determine current values and trend insights.
Hagerty also offers Hagerty Plus, a membership program that offers tailored services and benefits to collective vehicle owners.
Every DriveShare rental includes up to $1 million in insurance protection and access to a comprehensive full-service roadside assistance program designed specifically for classic vehicles. More information can be found here.