It can hurt.
[ul]
[li]Possible identity theft if your car is stolen or broken into and ransacked.[/li][li]Worse if you are seen leaving your vehicle to attend an event with a known time frame. Someone may break in specifically to look for the registration paper to find your address (Oh, a bonus! A driver’s license!) Since they know how long you will be gone, and they have your address, they go over to your place, and if no one is home, rob it.[/li][/ul]
Both above scenarios I’ve confirmed with my local police. I now only have a photocopy of of my car registration in the vehicle. My address is covered up in the photocopying. My insurance card does not have my address listed because my insurance company confirms the police opinion as well and issues all of their insurance cards with minimal information and no addresses.