The switch with the lever sounds more useful than it is. For one thing, after a power outage, you would often have to hold the lever to get going again.
If you rely on that feature to detect a well going dry, it may not trip out. If the well is sucked dry before cutoff, the pump can continue to run, sucking air, for a long time. I had a softener that got stuck in backwash overnight. It pumped the well dry, but the well was constantly refilling at a rate less than 2.4 gpm. So a mix of water and air got pumped up for a long time. I wish I had checked the pressure gauge before putting a stop to the problem.
This is not to say that it is not sometimes useful to do what you want. It is definitely cheaper than the more-effective dry-well devices. Those devices detect the current drop as you run dry, and turn the pump off for a programmable amount of time.
In
https://terrylove.com/forums/index.php?threads/frugality-at-its-finest.82903/ LLgetfa said
I looked at the Square D I had with low cut-off and figured out that I could lobotomize it. I removed the little metal piece that trips it and so now it is a standard pressure switch.