I try and keep these policies pretty broad, as most people don't actually read them, they give you more flexibility and if there is a an issue, courts have recognized that having an easy to find policy on your website constitutes people agreeing to them, even if they do not read them, or "agree" to them.
Privacy tells people what and how you are tracking information on them. It talks about cookies, what the i nformation is used for, and how it is shared, whether with outside parties including law enforcement.
Finally, have a qualified lawyer review all your policies. Believe it or not, changing small words can make distict differences in how people and courts review it.