Am I supposed to cancel my own iCloud storage subscription now that I signed up for Apple1?

I signed up for Apple1 a couple weeks ago and just saw the individual charge go through for my iCloud storage this month. I assumed when I signed up for the Apple1 suite it would automatically stop the monthly charges for the redundant services. Do I have to cancel them manually? Is there any risk of data loss if I cancel my cloud storage since the system doesn’t seem to recognize that it is a redundant charge?