The present invention relates to multi-part coating compositions that comprise a first part which is an asphalt emulsion comprising water, asphalt, and a dispersion system and a second part which is a liquid polymer composition that lacks water. The asphalt emulsion and liquid polymer composition are combined in situ to provide a coating that has fast dry characteristics, and that quickly develops good water-resistance. Such compositions are useful as coatings on metal, wood, and other surfaces, where fast drying characteristics are important. Such compositions are particularly useful as coatings on substrates where early water-resistance of the coating is important, such as those surfaces which are routinely exposed to the outdoors.
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