What to do when your iphone got "wet"

I dropped my iphone5 in the water last time we went Sorrento for Christmas..
it was a silly accident on the side of the pool..
and there it goes, my iphone5 flying on top of the sky and landing flat on the bottom of the pool, all wet...

Ever since, i have been iphone-less..
and since iphone5 is using a micro simcard, i cant put the card in other phone..
meaning, i am un-contactable on that number.. which pretty much is the only number that majority of my friends had.. i do have another phone and another number.. but it almost feels like a one way communication for me.. where no one call or text me.. and there is no apps or other random stuff that i usually do with my iphone..
now i just miss my iphone terribly..

Anw.. what to do when this happen?
what to do when your iphone got exposed to water, or any other liquid basically?

First, bad news it is.. Liquid damage is not covered by warranty
so to some degree, it doesnt matter if your iphone is still under warranty or not..
bare in mind  said to some degree, you'll know why..

Now, before even thinking about warranty..
what is the first thing to do?
1. do not try to turn on (if the phone is already off after being exposed to the liquid) or turn off (if the phone is still switched on even after the liquid)
2. try to dry the phone using a dry cloth or towel - since this will only dry the outside of the phone, next step is trying to dry the inside of the phone
3. since we cant disassemble an iphone without ruining it or its warranty to say the least (unless youre an expert technician, unlike me - really), we need to find a way of extracting the liquid from the inside of the phone.. to do this, grab a bowl of rice and dig your phone in it.. try to bury your phone inside the rice basically.. The heat causes condensation and the rice will absorbs the water and dries it out..
4. leave it as long as you can since no one can ever know how much water it needs to absorb..
5. hopefully it works after peeps...

Ofc some are lucky enough and some are not..
i was one of those who are not, but it was probly my own fault cause i keep trying to turn it on when i first get it out of the water..
i didnt know these steps earlier but now that i know, i feel like i should share it..
for the sake of iphone knowledge sharing - or simply knowing how bad it can be for some people out there when they got panick and has no clue of what to do..

Anw... what are your options if your iphone decided not to come back to live? sigh..
1. If your iphone is still under warranty - go to Apple store, or any other authorised Apple service dealer..
They should have an option of buying a new phone around $200-$300 depending on which iphone you are using. Trust me this is in my opinion is the safest and smartest option there is.. Plus, you get rid of any scratches you got from your old iphone since you are getting a new one =) This is why i said earlier, warranty does make a difference still eventho we got stupid liquid in our iphone..
Note: If you decided to go authorised service centre instead of Apple store, they might have different charges and i doubt it that it would be less than Apple store.. Also, check with them if they do service for your specific iphone type.. Since am using an iphone5, atm not all authorised dealer can do service for iphone5..
2. If your iphone is no longer under warranty - you can still go to Apple store and check with them if you can opt for that option.. but otherwise.. you have all the options in the world to bring it anywhere else who claim they can fix iphone.. Might be cheaper (i did know some places here at Chinatown claimed they can fix iphone5 for $250-ish), but keep in mind they might not guarantee it will work perfectly..

I am often clumsy, sometimes dumb and that time very unlucky.. but with this post i hope i can feel a little better, and help others possibly...