Abstract: Waterproofing material, including a base coat and a top coat, and a method for waterproofing a surface are described. The base coat includes about 60-70 percent rubber emulsion which further comprises a first rubber emulsion and a second rubber emulsion, about 3-10 percent fire retardant, about 3-10 percent opacity filler, and about 10-64 percent of other components. The top coat includes about 40-80 percent of a rubber emulsion, about 10-20 percent of a carbonate filler, about 3-10 percent of a fire retardant, about 3-10 percent of an opacity filler, and about 0-44 percent of other components. The method includes applying a base coat to a desired thickness allowing the base coat to dry, then applying a top coat over the base coat to a desired thickness.