My concern isn't what is on my phone. I don't have to worry about what pics are on there etc.
My concern is the access someone would gain by having my unlocked phone in their possession. Password resets are sent to my gmail account - which they now have access to. Actually a smart thief would go straight to my gmail account and change the password using the two-factor I have set up on my phone. Then go through my gmail to see what accounts he can password reset that will authenticate through my gmail. Then through the browser to see what shopping sites, financial sites, etc I frequent. Could be the easiest way to steal my identity short of getting into my locked filed cabinet at home.