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I am assuming you mean a bicyle not a motorized bike. Yes, file the claim, all policies have different wording and exclusions, but most would cover a full time students personal property. As to them paying to replace the bike accessories etc, that will depend on your parents policy as well, actual cash value or replacement cost.

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Q: You are in college and your bike and some accessories on it were stolen you are covered by your parents' homeowners insurance Should they pay to replace your bike and the accessories that were with it?
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