If you read the small print, you might find that there only a limited number of parts that are covered by the 'warranty'.
The frame is the important one. Serious mechanical breakages due to manufacturing defect is second.
Most other stuff is 'usual wear and tear'.
If you have a GOOD LBS, you should be able to take the bike in and tell them something is wrong and they'll fix it for nothing, or give you instructions on how to fix it yourself.
Taking a bike in for regular service detracts from the important life-stage of learning to fix it yourself.
Without knowledge of repair work, you will be stranded on the roadside if something goes wrong.
Unlike motorists and the AA, cyclists don't have a BA - Bicycle Association, to come to our help.
My suggestion is to go to the LBS and ask how to service the bike yourself. They will appreciate your enthusiasm - if they are not
Halfords.