If Apple does not want to cover it, just in case, immediately, like right now, put your phone in a bowl or a bag with white rice and seal the bag or bowl tight. The rice will absorb the water. I have seen this work numerous time.
It worked on my friend's iPhone 1st gen after it fell out of her purse into the freezing snow and she didn't notice until the next morning.
After 2 days in rice and some de-thawing, it functioned just fine.
Seriously, try rice and let us know