It may save you money if you have your car insurance and homeowners insurance being taken care of by the same company.
You can always call and ask your provider if they would allow some sort of bundle plan. Most insurance companies will give you a discount for having both insurance policies with them instead of having more than one. Barclays set up two Legal & General decreasing term life insurance policies for my partner and me without our consent; we had bought life insurance separately with Aviva.