Me neither. I just use a dedicated savings account with a monthly transfer for things like insurance.
If I recall, Mary Hunt's idea was that setting up a separate account to cover things like insurance would protect the household from dipping into regular savings. First, it would make the saver actually calculate and budget the monthly saving needed to meet annual or quarterly expenses. Second, she suggested reviewing average "emergency" spending (the hotwater heater that went) over past years and saving an average amount to provide for the unexpected.
(I haven't read her book in a couple of years, so some of this may be muddled.)
