My opinion - if you like new cars every few years and don't drive overly much...it can certainly be a way to keep initial costs down. But as others have said - if you plan to buy at the end of the lease, essentially you are paying at the end for the initial cheaper costs. Don't know about additional insurance costs.
We tend to keep our cars and drive them until the wheels fall off, lol. Just replaced a 20 yr old vehicle with 230,000 miles - which we bought new - with another new one of the same make/model. Figured if we got that kind of life out of the previous one at 62 I won't need another one!