I think most of us probably know the proper useage of an apostrophe. To show possession (Mary's shirt), omission ('09, y'all), plural posessive (all the shoes' laces). Click here
for a good site on the apostrophe.
But what about "homeowners policy"? Since it's a singular policy, I would think it would be a singular possessive homeowner. Of course, there could always be two people who own the policy. But, in general, it seems the insurance industry doesn't use an apostrophe in "homeowners policy." So should we?