The warranty doesn't cover damage caused by water or other liquids to the iPhone or iPod - Apple Support. Basically, Apple doesn't repair water-damaged iPhones. However, it's up to the Apple technician to determine if that's the case. And, if so, liquid damage isn't covered by the one-year limited warranty, and replacing the phone would be at the full cost.
In fact, the cracked back would have made it irreparable. Screen repairs are entitled to coverage for accidental damage caused by manipulation with your AppleCare+. Learn more about repairing your iPhone screen. Apple's one-year limited warranty doesn't cover liquid damage to an iPhone or iPod.
If you're not sure if exposure to liquids is causing a problem with your device, even if you see a red LCI, contact AppleCare or an authorized iPhone service provider for help. Water damage cannot be repaired, so the phone needs to be replaced. If you don't have AppleCare+, you may have to pay the full replacement cost in case of serious damage, but this is a recent change in wording. Water resistance is not the same as water resistance.
In any case, the fall may be the culprit here and not the water. In any case, I suggest that you make an appointment with the Genius Bar at your local Apple Store or at an Apple-authorized service provider to have it reviewed and given you your options. If you chose to sign up for an AppleCare+ plan when you purchased this phone, this could be one of two accidental incidents, and any repair or replacement should have a reduced cost. I know the difference between water resistant and water resistant.
Anything that's remotely water resistant should have survived this fall, but fine. Sorry, I didn't want to admonish you, but you'd be surprised how many posts we have here where people don't. Or you feel that Apple is deceiving about the differences. Here we don't even talk about repairs done by yourself or by third parties.
Apple simply won't try to repair an iPhone in which liquid detectors, such as those in the SIM tray, are turned on in red. Big mistake, the newly purchased iPhone 11 pro had problems and after 2 months of dealing with Apple, they shipped a new iPhone 11 pro. During an iPhone recall, Apple Support sent me to an authorized Apple reseller who replaced the screen and battery while I waited.