Title insurance is required by lenders to be purchased by the Buyer at closing. Title insurance provides two types of coverage. First, it will pay to legally defend the insured’s title, and, secondly, it will pay the cost for the removal of a defect in title on behalf of the insured to the extent of the policy limits. Title insurance protects the Buyer from hidden defects not revealed in a title search, such as lost or forged deeds, deeds executed by incompetents, mis-indexed deeds, or improperly probated wills.