I have it password protected and touch ID. So If I lose my phone or it gets stolen and assuming the person who gets a hold of it can't get into my phone is my understanding correct? I just buy new phone, install the app and punch in my seed I will have my original wallet back with all my WAVE coinage? That's what I would like to know!!
yes, sure. the first time you installed the app with seed was actually the same case as you described. no matter if you install the app with wallet again.