I didn't realize this, but apparently people inadvertently getting their iPhones wet has been a bit of a problem. I'm not talking aobut the usual story of dropping them into a toilet or whatever, but rather people taking their phones the gym or the bathroom and getting all kinds of moisture into the device.
Previously, Apple wasn't too understanding about such a predicament. You'd have to shell out for a new phone and a new contract—a double whammy.
However, starting this week, that semi-draconian policy has changed, according to our sister publication, PC World. If you've got a waterlogged-due-to-moisture iPhone, bring it into to your local Apple Store, belly up to the genius bar, and they'll replace it out for you for the low low price of $199 (possibly refurbished). That's not a trivial amount of money, but it sure is better than having to pay hundreds more for a non-subsidized iPhone and signing up for a new two-year contract.
My advice? Just keep it out of moisture range.