I have ridden many unsafe bikes and once even rode myself to the hospital on a sports bike with a snapped off left foot peg and snapped off clutch lever, a broken ankle, ribs and thumb. (all conditions a result of inattention earlier in the ride) But the most dangerous riding I have ever done has been been while distracted- by work issues, future plans, thinking about what was going to happen when I arrived.
By all means- suit up for the fall, wear a helmet, have horns and lights and mirrors. But the ultimate safety instrument is bolted on between your ears. Make sure you tighten those bolts before you ride.