Defensive bonus for being invisible
Invisibility should help evade attacks
In my opinion invisible beings should be harder to hit since one cannot locate them precisely (without the See Invisible intrinsic or the like). Attacking them with missiles would be very very difficult. Some spells might have a chance to miss too (depending on the size of the area they affect). Ball spells and the like would work always because they fill a large area with magical matter that cannot be evaded.