The reason I have insurance ... I was carrying my Droid Turbo 2 in my shirt pocket, leaned over a pail of mop water, dropped it in. I removed it within seconds. I let it dry for 2 days in dry rice, charged it.
It now seems to do everything normal but the battery goes from 100% to 0% in about 20 min. With water damage you cannot predict anything.
I bought a replacement and started carrying the extended warranty, I keep the damaged Turbo 2 for software testing (while plugged into a charger).
It is not recommend to try charging a water damaged device until you have given it a few days to dry. The dry rice is an old trick.
... Thom