I lost my phone last month but it is password protected and to that extent I feel my data is safe.
But what about the SD card in the phone. No password on that. So all my personal fotos are now open to analysis. Not cool right.
Of course you can buy an encryption software to protect your card. But a better option is to buy a phone with a decent internal memory, say 16 GB and backup other non-essential data online or on a hard drive at home.