Frequently Asked Questions
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To help you make the most appropriate coverage decisions, we have included some frequently asked questions as it applies to the program and the coverage offered.
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Q: Who is eligible for coverage?
A: Employees are eligible to participate following their benefits eligible date. Any employee of Chesapeake who resides in the United States may elect coverage. Employees may obtain limits up to $25 million with a premium rate that is often significantly lower than stand-alone policies offered through independent agents and coverage providers.
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Q: When can I apply for coverage and when does coverage begin?
A: Existing eligible employees may enroll at any time during the year, with the coverage beginning on the first day of the following quarter. Newly-hired employees may enroll when they become benefits eligible. Coverage commences the 1st day of the quarter which follows the new employee's enrollment of coverage. ​Employees will continue with their current enrollments unless cancelled. Coverage can be cancelled at open enrollment each year for termination at the end of the current plan year.
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Q: Am I charged for accidents, violations or the number of exposures?
A: This program is group-underwritten and you are not charged by the number of accidents, violations, home, automobiles or youthful operators you have. ​
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Q: Are recreational vehicles covered?
A: Yes. However, to ensure you have no gaps in coverage, it is imperative that you carry the minimum underlying limits on your Homeowner, Renter, Automobile and other policies as required by the minimum required underlying limits. If you do not currently have the minimum underlying limits, you should contact your Personal Insurance provider to amend your coverage as needed.
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Q: Are business pursuits covered?
​A: ​The purpose of this program is to protect you against "personal" exposures for which you may be personally liable. The intent of this program is not to protect against business or commercial exposures. However, certain incidental business exposures are covered including some rental properties, farming activities and others - but only on a limited basis. Please review the policy exclusions in the specimen policy to determine how coverage will apply in your specific situation.
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Q: Are children away at college covered?
A: To ensure dependents are protected while away at school, you must first ensure they are listed as drivers on your automobile policy. Secondly, you must extend liability coverage at the minimum underlying limit from your Homeowner Policy to their address at school. You should also discuss the nature of this exposure with your Personal Insurance provider. By ensuring these requirements are met, coverage will likely apply.
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Q: How do I report a claim?
A: To report a claim, you must first notify your primary insurance provider. This is the provider who provides the first layer of liability coverage for either your Homeowner or Automobile Policy. Once the underlying policy limits are exhausted, you should contact your Chesapeake Energy Group Personal Umbrella program administrator toll-free at (888) 557-0975.