Olsen takes out insurance to protect shoes

Mary-Kate Olsen has insured her wardrobe for $2 million (£1 million) in a bid to prevent her collection of designer shoes, handbags and other accessories being stolen, it has been reported.

According to the National Enquirer, the 22-year-old actress and one half of the highly-marketable Olsen twins, opted to take out the policy for fear of being targeting thanks to her newly-found status of fashion icon.

"Mary-Kate got closet insurance. She has pieces that cost over $25,000 each. She has a vintage Chanel bag that is worth over $40,000," an unnamed source told the magazine.

The twins have launched a wide range of products through their own brand, including fashion and accessories, as well as make-up and spin-offs from their modelling careers.

They began acting aged just six months in the US sitcom Full House. Since then, they are reported to have accumulated an estimated fortune of $100 million, with Forbes rankiong them the eleventh-richest women in entertainment in 2007.

Mary-Kate is set to appear in the forthcoming independent film The Wackiness with veteran actor Ben Kingsley, with whom she shares a passionate kiss for the role.

Commenting on the scene, she told the Wall Street Journal: "He was so professional about it and made me feel so comfortable."