Rates are minimum and specific. A minimum rate applies to a large group of properties such as dwelling houses where the hazard, or risk, as it may be better understood, is uniform in its character and does not vary much in extent.
Minimum rates apply to groups of properties which the underwriter finds he may safely insure without the expense of a specific inspection and the specific rating. Stores and dwellings, including dwellings above the stores, also come under the minimum rates, provided the stores are occupied by a business of a very mild hazard such as dry-goods, groceries, drugs.