Entertainers Ashley (L) and Mary-Kate Olsen arrive for the Metropolitan Museum of Art Costume Institute Gala, "Superheroes: Fashion and Fantasy" in New York May 5, 2008. [Agencies]
Mary-Kate Olsen has insured her wardrobe for more than $2 million. The 22-year-old actress - who is widely regarded as a fashion icon - owns so many designer clothes, shoes, handbags and accessories she reportedly decided to protect them in case they are stolen or destroyed.
A source told the National Enquirer magazine: "Mary-Kate got closest insurance. She has pieces that cost over $25,000 each. She has a vintage Chanel bag that is worth over $40,000!" The insurance policy is purely for her clothes and does not even cover her vast collection of expensive jewellery.