Warranty smwarranty.. You will put that under some kind of homeowners or renters insuarnce jewelry policy.
The only thing hte in store policyes are good for, is if you want the ring resized, cleaned, re-iodized/re-nickled.. whatever..which happens so rarely, you might as well pay out of pocket.
Does the warranty cover a lost diamond? (like if you cant find it.. they will replace it, and what effect?)
have you looked online to see if you can find a better deal?
http://www.Bluenile.com, http://www.pricescope.com/ and the strangest cheapest but REPUTABLE place to buy a diamond.. http://www.costco.com
Buying a diamond for the woman you love is a wonderful thing, but there is NO reason you should spend out the ass for it, i promse you any setting that you saw at andrews, can be had at just about ANY jewelry store.
Also, you can go in to ANY decent jewelry store and have your ring cleaned and inspected FOR FREE. (Jareds is REALLY good about this, and they have thier gemologist right there)