You might think so but I found out otherwise. A couple years back, I lost my iPhone - in a really unique way, I'll have to tell the story someday. When I got my replacement phone, it downloaded all my information, including address book, apps, music and all the settings. It was like I had my phone back.
Turns out all your data is actually replicated "up in the cloud".
So losing your device is not the catastrophe it used to be.
Until they lose the Cloud.
Trust me, it will happen.