I don't mind getting a little wet but I don't want my phone or books to get wet, and I prefer to have a professional appearance when I show up for an assignment. Sometimes it's a long walk on campus (up to a mile) between classes or to the parking area, and we can have heavy sudden showers that flood enough to close the streets. (Once I did have to show up for work soaked up to my knees, just walking from my parked car to the building.) That's why I keep a small umbrella with me and/or a folded-up hooded windbreaker.
If I have to work outdoors in the rain, I prefer a yellow hooded raincoat so that my hands are free.
If we get caught in a rain shower while we're on the motorcycle, I definitely would put on a rain suit (although I prefer not to ride in the rain at all, for safety reasons).