Sorry, had to comment. 
That is the wrong question, IMO. Just because we can, does not mean we should. Do you carry a wallet, cash, gold, “papers”, valuable jewelry,…? If so, you can get by without Google’s help letting you feel more comfortable being more careless with those valuables. Why not get by without Google’s help letting you feel more comfortable being careless with your device?
That said, thanks for using the sentence form you did: you lose your device, not “a device is lost” like here Keep track of my Bluetooth devices