My wife and I use Find My Friends quite often to keep track of our children. I've used it for years, so I'm quite familiar with it. Our experience is quite the opposite of "100% accurate".
I provided more detail in this other post: https://news.ycombinator.com/item?id=10950107
Edit: just looked up the USA version of "probable cause" here: https://en.wikipedia.org/wiki/Probable_cause#United_States
In my opinion Find My Friends does not meet the standard of probable cause as defined by that Wikipedia article. I'd characterize its behavior be somewhere in between "reasonable suspicion" and "probable cause". I've seen the location be wrong and stay wrong for 1/2 hour or more. And I don't mean it can't find a location, I mean that it is repeatedly reporting the wrong location ("now") for an extended period of time.
Oh, and BTW following that Wiki link for "reasonable suspicion" says that it is sufficient for obtaining a warrant. IMO Find My Friends does meet that standard, at least as I understand it by a quick reading of Wiki.