Paid $1500 for ‘first class lease protection addendum’

Did a one pay lease and they ‘pressure recommended’ I get their lease protection (images attached) for minor chips, dents etc.

I paid $1300+tax=$1500 refundable in first 30 days if I choose to cancel. They semi scared me into staments like ”a single chip on the glass is gonna set you back $$$, same for paint” etc; also mentioned I’m gonna “use tyres at minimum” and it’s $350 each so the amount pays for itself.

The $1500 gives me protection upto $7500 not exceeding $3000 for each instance. Can someone tell me what this is and if best I cancel assuming only normal wear and tear?

Mercedes EQB 250+, Northern California, 2yr lease, 7500 Miles/yr