There is a switch on my KZ1000 and LTD 1000 side cover. What is it for?

I have one on my handle bars that operates the electric power shifter that I put on back in the 80's, but I never saw the switch mounted to a side cover. It is a "Dale Walker" brand shifter, they were used instead of an air shifter. He is still in business today but it's now "Hole shot Performance".  Good luck.    www.holeshot.com/holeshot/home

Back in the late 80's I had a toggle switch like that under the dash of my 1974 Z28 and it turned on the electric fuel pump.  
If you didn't know about it and you tried to steal car, you wouldn't get very far!