Yes, you are correct, but the handlebar and the pegs on a smaller bike also gives you enough space to not crush your leg. Also the sport bikes are pretty light.
Dropping(Not getting hit by a car) a small bike is going to hurt your wallet more than your body if you have the right jacket, gloves, boots and jeans.
If you ware the right gear, follow the rules of the road and never go faster than 10 miles over the limit, you should be pretty good. Bad Shit happens when you ignore any of the above.
Knowing and respecting the Speed limit is so important!! If you are roughly riding at the speed limit, you will have more than enough time to react to another cars mistake. The faster you go, the less reaction time you will have when someone else makes a mistake.
The dreaded left "turn head on crash" can dramatically be reduced if you are at the speed limit or if you slow down before the intersection when you see a car in the left turn lane.
With all of the above followed properly, you can dramatically reduce your chances of getting hit, dropping your bike and or dying on a motorcycle.
Anyone who rides will agree with me. Hope that helps.
Just Dave