[graemep]

Except a phone does a lot more than a wallet. For many people it replaces their wallet, and their phone, their car keys and many other things. Therefore the impact of losing it is greater.

It is taken out more, so you are more likely to lose it. I often see people with their phones out on a table in a cafe, or even on a flight while they are asleep.

I think it would be more effort to replace a phone than a wallet. You need to buy a new phone and restore it. With a wallet you might need to make a few phone calls but you can manage more easily until it arrives.

[throwaway27448]

Car keys? Replacing your car keys with a phone seems insanely risky, especially since the car is often a primary method of charging your phone.