Bicycling is a pretty safe activity. See Fatality Per Million Hour table in
http://www.ohiobike.org/misc/CyclingIsSafeTLK.pdf
Vastly safer than motorcycling and private aviation, safer than water skiing and riding in cars, but less safe than flying commercial.
Yet people here ride motorcycles and fly private planes, and don't crap their pants in fear. We all get in cars and drive, without a second thought.
How about the safety of bicycle
commuting, specifically?
Odds of fatality for bike commuters is less than 0.0007 per year - that is, 7 per 10,000, or 0.07% if you prefer.
http://www.webikeeugene.org/wp-content/uploads/2011/03/WeBikeEugeneMAP.jpg
Why do I say less than? Because the graphic linked uses total bicycling fatalities in the US, divided by number of bike commuters, and some of those fatalities were not of bike "commuters".
But, hey, if it is too frightening for you, then don't do it.