Yes, the rad cap will blow before any engine damage. (248 F)
BUT, once the rad cap blows you need to let the bike cool and refill the cooling system. Having a temp indicator (lights at 239 F on a K1100) lets you shut down the engine to let it cool before the cap blows. (I once did a long summer ride on a 93 K1100 with a bad fan and the temp light helped me keep the rad cap from blowing when I'd get stuck in slow traffic at 90+ F.)
On a K1100 you can wire up a temp warning LED with 12V to the + side and the BRN/BLK cluster wire to the - side of an LED.