Does AppleCare+ cover water damage for the iPhone 4s?

My sister dropped my phone in water and it is not working. I looked up my warranty status on apple.com and it said that my phone (iPhone 4s) is covered under AppleCare+. Now I'm pretty sure that water damage is covered under the AppleCare+ program but I would like to make sure (remember that this is AppleCare+, not the standard AppleCare coverage which I know for sure doesn't qualify for water-damage replacements.)

Call them and find out but I know for my iPad it is unless its fully submerged.

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