Lost devices

Losing a phone matters far less because of the phone than because of everything it was still signed in to.

Whoever has it does not need your passwords. The apps are already open. So the useful response is not only to wipe the device remotely, which may never happen if it is switched off or has no signal, but to go to your important accounts from somewhere else and sign out everywhere. That kills the sessions the device was holding, whether or not the device ever comes back online. Do that first, then worry about the hardware.