Section 24(1) in The Rajasthan Warehouses Rules, 1960
(1)Every warehouseman shall insure the goods deposited in his warehouse against loss or damage by fire and theft for an amount not less than the market value of the goods on the date on which they were deposited in the warehouse:Provided that nothing in this sub-rule shall apply the goods deposited in the warehouses belonging to a Warehousing Corporation where such Warehousing Corporation has agreed in writing to compensate the depositor against loss or damage by fire and theft, to the extent of the amount not less than the market value of the goods on due date of the deposit.
