You are legally required to post a PRIVACY POLICY on your website if you collect any information from visitors, even if it’s just an email address. The Federal Trade Commission (FTC) and now the European Union's General Data Protection Regulation (GDPR) make protecting your website visitors’ personal information mandatory.

And beware of generic "cut 'n paste" Privacy Policies: They do not take into account the nuances of your particular business and are likely to leave you exposed in ways you don’t realize. Besides, "borrowing" someone else's Privacy Policy is copyright infringement. 

Your website’s TERMS Of USE statement protect YOU. It spells out the rules you require people to follow when they visit your website. It lets your visitors know exactly what they are  permitted to do with the content you provide as well as what they are not permitted to do. It’s also intended is to put limitations on any liability that may arise from misuse or unreasonable reliance on the information provided on your website.

Whereas a Privacy Policy protects other people's privacy. A Terms of Use, a.k.a., Terms & Conditions statement, protects your assets! 

A disclaimer acts to protect you and your business from being sued.

When it comes to your website, you want to make sure no one misuses or misunderstands the information found on your site and then claims to have been hurt or "damaged" but such misuse. 

Managing your risk is a crucial part of running an online business and your website’s DISCLAIMER is essential to such risk management.

A disclaimer limits claims against the site and its owners, no matter how frivolous or unforeseen the claims may be.