I’m writing an article about title insurance. There are two types of title insurance policies: an owner’s policy and a lender’s policy. If I were talking about specific policies belonging to specifc owners, I would call them owners’ policies. For example, “The owners’ policies gave them piece of mind when the housing crisis hit.” But if I’m just talking about those types of policies in general, I think I would call them owner’s policies. For example, “In the past year, owner’s policies have increased slightly in price, while lender’s policies have seen a more significant increase.”
Is my thinking correct that in the latter case, I am talking about a type of policy rather than policies belonging to multiple owners so I would use the singular possessive? Or am I wrong and because the noun is plural, the possessive should be plural as well?