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$975 and only a 1 year limited warranty, ouch.
The warranty's a funny thing. You can read the fine print and whatnot here in teeny tiny text - https://pro.ultimateears.com/media/support/Ultimate-Ears-Custom-Monitor-User-Guide.pdf
Basically, UE will pay for the first year if anything goes wrong with any component (assuming you're not purposely whacking it against things or otherwise misusing the product).
Luckily, UE doesn't hang you out to dry after 1 year. If anything goes wrong after the 1 year period, there's a flat $99 repair fee to get your product back to good as new.
Just don't crush the shells or anything like that. Or lose them. That would really suck.
I've had 3 pairs of them...they are one of the best customer service teams I've ever worked with.