Do I need to do a title search if the auction house provides a title policy?

I looking into bidding for a single family house that is in an absolute online auction. It doesn't say anything about the property being foreclosed or a tax lien so I think it's just somebody trying to sell their home quickly. The posting says title policy is available on request, and seller to convey title by warranty deed. 

I'm not quite sure what a title policy is but does it mean it has a clean title and I don't need to pay for a title search?

It also says: "Title insurance and escrow services will be provided by the [I'm redacting company name]."