I live in a state where I can choose to get uninsured motorist (UM) coverage or not. Having it on both of my cars increases my premiums by about 25 percent because I don't really drive much (public transit and walkable neighborhood for the win). Currently I'm looking at $235 every 6 months if I include it UM and $178 if I don't. My question is what situation does UM coverage pay out that I wouldn't already be covered for now that my health insurance has a yearly out of pocket max and a no lifetime maximum benefit.
If I'm in a crash thats my fault, the UM is irrelevant because my standard liability car insurance pays out.
So if it is just me in the car and an uninsured person hits me and its their fault:
If I die, my life insurance pays out. If I get horribly disabled, my Long Term Disability coverage pays out. If I have high hospital bills, my short term disability covers my earnings while I'm in the hospital and my health insurance pays the hospital with me paying co-pays etc up to my yearly out of pocket max which is like $12k or something perfectly reasonable (significantly less than emergency fund + credit card limit)
If I have a friend in the car and an uninsured person hits me, then I could see my UM coverage paying for my friend's expenses. In my head my friend should have coverage for themselves so should I care? Not to mention this is a crazy low probability event given how little I drive let alone with a passenger not my wife.
Can someone explain to me where this coverage is used now that the gaps in health insurance have been closed by Obamacare?