If you're looking for a ring in the price range of under $1k, you're going to get a pretty barebones ring with a tiny useless rock with so-so clarity and so-so brilliance in a white gold setting. If you break up, the ring will trade-in for about half its purchase price. I know you're not socially conscious and wouldn't care where the rocks come from, but if you HAVE to get a ring, I would recommend an artificial diamond. You'll get much more bling for the buck and its even more ecologically responsible. Otherwise, go to one of those mall jewelry shops and try not to get ripped of.
If you're looking for a "sale," look in a Macys flyer for one.
And since its less than $1k, I wouldn't bother with insurance.