WHAT IT SHOULD INCLUDE
1. How and What Type of Information You Collect
2. What You Do With the Information You Collect
(Cookies are small files on your computer that track what you do on a website. They are, among other things, what allows you to add something to a shopping cart so that the item is still in the cart when you go there to check out. They can help your computer remember pages you visited so it’s easier to find that page again later.)
Three websites recognized for the quality of the Privacy Policies they generate are listed here. Make sure that you and/or a lawyer review what is generated. This article is in no way intended as legal advice, only a good starting place, and better than nothing.
All three of these services can be gotten in free or paid versions (which afford greater detail) and use questionnaires to narrow down what you may or may not need on your website.