I think it boils down to what sbhikes said. To paraphrase/extend: If you ride like a vehicle you get treated like a vehicle and that comes with the good and the bad of being treated like and involved as a vehicle.

This means if you ride VC you very well may be less likely to have an incident, but if you do have one it will be more vehicular in nature (i.e. sideswipe/someone merges into you in your lane, rear ended while stopped at light or going slow) Vehicular accidents tend to be more severe due to higher speeds, crushing forces and other secondary vehicles involved.

But if you ride in a more pedestrian style way you will perhaps be more likely to get into an accident of a pedestrian nature (i.e. right hook, bumped from sidewalk, crash (trip) on an obstical, drain, debris, pedestrians) There may very well be a higher likelyhood of these type of incidents, but they may be more minor in nature due to lower speeds involved and less chance for secondary vehicles to be involved.

But this above is just my thinking out loud, hence the frequest use of the words 'may' and 'perhaps' etc.

Al