Losing your phone could cost you far more that its replacement price.
A recent investigation found all sorts of personal information could be at risk for smart phone owners who don t use the password protect feature on their phone.
As a test, the security firm Symantec dropped 50 smart phones with fake personal information in five major cities.The phones were pre-loaded with tracking software.
On average, someone was moving with or accessing data from the phones in all five cities within an hour.
According to Symantec, 81 percent of the finders of these 'lost' phones accessed contacts information on the devices; 64 percent accessed social networking on the phones; 47 percent accessed cloud-based documents; 45 percent checked salary information and 43 percent accessed online banking information.
The phones were returned by the person who found them in only about half the cases.
Recent studies estimate that as many as half of all smart phone users don't use passwords for protection. Smart phone security experts recommend enabling that feature.
Read more: Symantec loses smart phones in privacy test