Old question but I thought I would add my 2 cents.
Obviously the best way to create legal policies for your site is to hire a lawyer. However it's expensive and unless you have a very busy/popular site it's probably not worth the investment.
Another way is to go is to use one of the generators available online. It's much easier and quicker. I would highly suggest not to use those that only ask for your website name/URL and spit out the policy right away. Obviously knowing nothing about your site they cannot give you a policy that suits your personal needs and you'll just get a basic "template". Instead use something like https://www.websitepolicies.com (it's free for personal sites) or termsfeed.com (already mentioned earlier but it's a bit costly).
And lastly you can certainly create your policies yourself. Simply go through some of the legal policies of other sites and use those disclosures that apply to you and your site. Or just use a generator and adjust it to your needs