[S019]

schedule rating
A system of making fire insurance rates for commercial properties, determined by a physical inspection of each risk. Such rates are made by modifying the class rates applying to a given classification, to the extent of the good or bad features of the individual risk, according to the schedule. For example, a certain commercial building may receive a credit because it is sprinklered, a debit because it is protected only by a volunteer fire department.

(See schedule.)