Do I have yo get a new contract?

(*THIS All HAPPENED BEFORE THE 5S CAME OUT) So my iPhone 4s has water damage. Apple said they can't fix it I have to get a whole new phone and it would cost 200 dollars. Then I left. So if I pay that 200 dollars for a new phone do I have to get a new contract too?

Might as well. Surely yes. You've to make a new contract bud.