Cover Your Ass-ets
Of course there’s the legal coverage they give you – in particular, your Terms of Service can protect you from future litigation.
Reassure Your Visitors
They are also very important trust builders with your site visitors. To them, you’re obviously taking care of details and not a “fly by night” operation, if you’ve gone to the effort of clearly delineating your policies.
Add Policies to your WordPress Website
Once you’ve generated your Policy, copy the HTML code at the bottom of the screen. Click in that area and then hit Control + A to make sure you get it all, and then Control + C to copy. Open a New Page on your WordPress site, go to the HTML tab (called TEXT after version 3.5) and click in the text area. Then press Control + V to paste the policy in. If it’s possible in your Theme, you may want to set the page display options to full width. Put a title on your page, and Publish it. Decide whether you want it as part of your main menu structure, or as a link in your footer.