mkolsen_insureswardrobe.jpgMini fashion magnate Mary-Kate Olsen has reportedly taken out a whopping insurance policy on her US$2 million designer wardrobe. According to Star magazine, the pocket-sized twin took the drastic measure to protect her threads from theft and/or a natural disaster, such as a fire or earthquake.

"Mary-Kate has pieces that over US$25,000 each," a pal told the magazine. "She has a vintage Chanel bag that's worth over US$40,000."

Can you really blame the lass? I mean, if J-Lo can insure her derriere...