Nick,
This is another total cluster, where some make-work has decreed that GA aircraft, parked outside, must have a visible theft deterrent
All our hidden isolator switches don't meet the requirements, and if you have a sun screen in the window (not unexpected during 38C summer days), then any in cockpit lock is hidden, too! Not too keen on anything which may hinder the controls, you're quite right about the associated hazards
We have Federal Police patrolling airports these days, and can see an interesting test case or two in the wind