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I won't leave any important paperwork anywhere on the bike.
If it gets stolen, they have your registration..
The reg and ins card doesn't take up that much room in the wallet.
My wallet & I have a tube from a pop flare attached to one of my down tubes, that and three plastic ties keeps it secure and gives no one reason to search my bike
I guess I'm not very patriotic as I'm subjecting myself to illegal search and seizure but I keep mine in the tourpak. I purchased a Front Pocket Wallet (H-D of course) and keep reg, ins, Road America roadside card and ESP information. I keep it in the little pouch that came in the tourpak - not detachable so not going anywhere. Figured the saddle bags are too easy to rip-off. Sometimes, on long trips, If I remember, I'll take it out and put it in my jacket inside pocket where I keep my wallet. sometimes I forget so it's on the bike. I have been stopped and gone thru roadblock - when LEO asked for paperwork I politely said "I need to get off the bike and open the trunk" and he said "don't worry about it, I ran the plate and you're good to go"