Question re "jointly and severally obligated" in construction contract

[msmith56]

I am hiring a tree service to cut down a tree that is very close to my house, so I want to make sure that if they make a mistake and damage my house that they (or their insurance) will pay, not me. On the contract for the job it says under the "Owner acknowledgements" section the following:
5. Owner agrees to be jointly and severally obligated and liable hereunder.

This sounds to me like if the contractor damages something, I am as liable as they are? This statment doesn't refer to anything specifically, it just seems to refer to the whole contract in general. Does this say what I think it does and has anyone else seen anythign like this in a contruction contract? Elsewhere in the contract, it says I also must use mdiation before suing. The rest of it seems fairly harmless. I live in CT.

Thanks very much for your help!