Accidentally drop your iPhone in a pool or some other body of water? Spill a drink on it? Well, if this happened to you in the past you were out of luck. The only way to replace your smartphone was to pay full price for a new model—$499 for a 16GB iPhone. Now, according to a new report, you can swap out your water damaged bit of Apple goodness for the far more reasonable price of $199 when you’re out-of-warrenty. That sure beats having to lay out five Ben Franklins for a new iPhone.