You can use a SearchCursor to export features in a shapefile to new shapefiles. The SHAPE@
token allows you to access individual feature geometry. The Feature Class To Feature Class (Conversion) tool does the conversion to shapefile. You can also specify a subset of features you would like to export by specifying a query
query = """"areacode" > 2"""
import arcpy
shp = r'C:\path\to\your\shapefile'
outpath = r'C:\out\path'
query = """"areacode" > 2"""
with arcpy.da.SearchCursor(shp, ["SHAPE@", "areacode"], query) as cursor:
for row in cursor:
# Note* using the "areacode" to name the output
arcpy.FeatureClassToFeatureClass_conversion (row[0], outpath, row[1])