There's definitely a spot in the 'legal' settings of your admin to add a Shipping Policy, but it doesn't have a 'generate policy' button, since the shipping rates and times for all stores are unique (especially if you're using something like Canada Post or UPS, for carrier calculated rates).
I would do something like this for the shipping policy:
<blurb about your supported shipping zones, ie. countries you ship to>
<blurb about any free shipping options, ie. "free shipping on all Canadian orders over $50.">
<outline the different prices + estimated shipping times based on supported shipping zones>
<blurb about duties respective to given countries that customers may need to pay in addition>
<blurb that explains that shipping times are calculated once the order has been fulfilled, NOT once the order has been placed>
<any questions or inquiries, please contact email@example.com>
Something like that would probably do the trick! :)
Hope this helps,
This is Max from the Shopify Team.
Shipping polcies vary so much depending on how you source and send orders to customers! If you need some examples of Shipping policies, I'd suggest checking out this post by Oberlo. Then you might also find this help doc useful- Add custom pages to display information.
Creating an FAQ page is something I'd suggest. This could be more geared toward Shipping FAQs, if you'd like. Check out this article -The Benefits of an FAQ Page (And How to Do It Right) for some tips!
You might also want to consider reading up on our Shipping section of the blog for some tips and resources!
I believe it can be done from the theme. You need to share or dm your URL so that people can check the page and find a solution.
I often just look at what competitors are doing grab one and modify it. Or literally just do a google "shipping policy template" and pick one.
If you have budget for a lawyer, always a good idea to get them to give you some recs on what you should do.
Couple of things I've found with shipping policies - sometimes Google Merchant Centre manual reviewers will miss it if you only use the text field checkout settings. Personally I prefer to create a more prominent /pages/shipping-info or something as it can actually be a valuable page to help conversions and build retargeting off of.