A Florida homeowner's policy contains a hurricane deductible. Under §627.701, which set of deductible options must the insurer offer, and how many times per calendar year may the hurricane deductible apply to a single residence?

Why this is the answer

Florida §627.701(3)(a) requires an insurer, before issuing a personal lines residential policy, to offer alternative hurricane deductibles of $500, 2%, 5% and 10% of the policy dwelling limits (for high-value homes the statute lets the insurer drop the $500 or 2% choice). Critically, the hurricane deductible applies only once per calendar year regardless of how many named storms strike — it is not per-event. It applies to a storm the National Hurricane Center has declared a hurricane, from the first hurricane warning for any part of Florida until 72 hours after the last watch or warning ends (§627.4025). A $250 tier does not exist, the deductible is not reapplied at each landfall, and the 1%/3% set is not the required offer (3% is only an alternative to 2% for homes insured at $1 million to under $3 million). See §627.701, Florida Statutes.