Just checked my receipt. Tomorrow is the 1 year mark from install. Called and they said parts but not labor still covered! This is my 2nd variable speed intelliflo pump. The 1st one only lasted 2 years. At $1500 a pop it gets expensive.
Bearings usually go bad due to a leaking seal. For a seal to go bad in that short a time is usually the result of bad water chemistry or running the pump dry. Occasionally the seal-plate can be damaged, but that is rare. A motor shop can easily replace the bearings in the motor. I've done it several times and I'm not a motor shop. Variable-speed motors are much easier to work on than standard motors. There are warnings about the strength of the magnets that should be heeded, but the job is a straight forward bearing replacement. If the drive is functioning correctly, it is worth a try.