The iPhone 7 finally sports water resistance, but you might want to be careful with that — the warranty doesn't cover any water damage.

Apple fans have long been asking for water-resistant iPhones, and the iPhone 7 finally delivers. The latest smartphone comes with an IP67 rating for dust and water resistance, which means that it can withstand the occasional rain, picnic or a day at the beach.

However, water resistance does not mean that it is fully waterproof. That IP67 rating means that the iPhone 7 should suffer no damage if it's submerged in 1 meter (3.3 feet) of water for up to 30 minutes. The thing is, the gadget's capability to withstand water and dust decreases over time, becoming less efficient.

That's why, although the iPhone 7 is dust- and water-resistant, the warranty does not cover any water damage. If water somehow ends up inside the smartphone, you will not benefit from free repairs.

Apple clearly states this in the fine print on its website, so there's no misunderstanding — you just have to scroll down to the bottom of the product page and read all details.

"Splash, water and dust resistance are not permanent conditions and resistance might decrease as a result of normal wear," Apple explains. "Do not attempt to charge a wet iPhone; refer to the user guide for cleaning and drying instructions. Liquid damage not covered under warranty."

Consequently, while you have nothing to worry about if the iPhone 7 takes a little splash or gets caught out in the rain, you might want to hold off taking it for a swim.

The water resistance of the latest iPhone 7 and iPhone 7 Plus reportedly matches the liquid resistance of the first-generation Apple Watch. Upon launching the smartwatch, Apple highlighted that the gadget was not waterproof and submerging it under water is not advisable.

It's worth pointing out, however, that Apple is not the only OEM that offers water-resistant devices without covering liquid damage under warranty. The Samsung Galaxy S7 and Galaxy S7 edge, for instance, have an IP68 rating — higher than that of the iPhone 7 — and their warranty does not cover water damage.

Bottom line, don't abuse the water resistance because it wears down over time and you may get some unpleasant surprises down the line.

To get a better idea of what the new iPhone has to offer and how it stacks up against its predecessor, check out our iPhone 7 vs. iPhone 6s comparison.