When I signed up for the insurance with T-Mobile in the US.. I was told that I could take the phone and run it over with my own car on purpose, come back to the store, tell them what I did (not on purpose of course), and then just pay the deductible ($150 I believe) and I would get another 8900.
But on their website it does state that waterDamage is covered..
http://www.phoneclaim.com/doc_list/d...ent&format=raw