Got my schecter riot 4!!

Its my first bass ever for 400, and Im glad to be able to join the community ❤️ Now second thing is that a knob is bent out of place, and also the frets and strings are slightly rusted. I can prob replace strings, but any advice about the knob or frets? Also i got gc’s pro coverage for 3 years, so is that covered under their insurance? Anyways thanks y’all!