I've lost two devices due to water...
The first was in Seattle. Got caught outside in an unbelievable downpour. My device was inside my shirt pocket, but I stupidly did not stop to close my jacket in my haste to get out of the rain.
The second time my phone dived from my shirt pocket into a toilet
(post-flush)
I tried drying both out, but was too impatient, and I kept putting the battery back in and turning them on to see if it worked. In retrospect I should have just left them alone for at least 48 hours.