Studying history helps you develop an appreciation for your roots and what came before you, along with what sacrifices were made to get there.
Studying history helps you understand characters (ie human beings) over time and in contrast. You can see how decisions played out over periods of time.
Studying history helps you understand the history and evolution of ideas. In this way it helps you understand the practical consequences for particular ideologies and worldviews and ways of thinking about life, politics, and the world.