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Depends on the condition of your truck and who will be driving it. I bought the extended warranty on my wifes car as I didn't want the hassle of dealing with a major breakdown within the first 120000miles. Personally, if you think the truck is a good runner and won't give you any problems, don't buy it (unless the price of the warranty is one you can't refuse).
Also look into the warranty. With the extended warranty that we have on my wifes vehicle, if we end up NOT using it, we get the $1500 back that we paid for it. I couldn't go wrong with it.
I bought mine at the dealer, but it is not a GM warranty (wifes car is a Z24 Cavilear). It is a 3rd party warranty.
You can get them at most dealers. My guess is that would be the best route of getting the warranty you want as they would be the most reliable and a repuatable dealer most likely wouldn't deal with an insurance company that was garbage.
You could also check with your bank. I know mine offers one that they roll into your loan payment.