1992 Ford Ranger Question: Do I need to replace the timing cover gasket in my ford ranger?

I had a safety inspection of my new pickup, and they told me that there is a small, small crack in the timing cover gasket. The mechanic said it would be $1000 to fix. however, he said we dont necesarily have to fix it. We can just check the collant level every week for a while to see if it goes down significantly. Do I need to replace it? How likely is it the crack will get bigger? Is the $1000 estimate a fair price?