Section 20. Insurance of goods in warehouses.

(1) Every warehouseman shall insure, in such manner as may be prescribed the goods in his warehouse against loss or damage by fire or burglary. On a written request goods in from a depositor and on his agreeing to pay the requisite charge, for additional insurance, the warehouseman may insure such goods also against loss or damage by flood, riot, civil commotion or any other contingency. (2) Every warehouseman shall be entitled to recover from the depositor, at the rate prescribed if the insurance is obligatory, or at the rate agreed to if the insurance is optional, the charges for insurance in respect of the depositor's goods before delivery thereof, and the warehouseman shall have a lien on the said goods in respect of such charges.