Setting an expiry date or a maximum age in the HTTP headers for static resources instructs the browser to load previously downloaded resources from local disk rather than over the network.

Adding Expires Headers to .htaccess file can Leverage Browser Caching and increase site load time,

Edit .htaccess file, add following.

    <IfModule mod_expires.c>
    # Enable expirations
    ExpiresActive On
    ExpiresDefault "access plus 1 month"
    ExpiresByType image/x-icon "access plus 1 year"
    ExpiresByType image/gif "access plus 1 month"
    ExpiresByType image/png "access plus 1 month"
    ExpiresByType image/jpg "access plus 1 month"
    ExpiresByType image/jpeg "access plus 1 month"
    ExpiresByType text/css "access plus 1 month"
    ExpiresByType application/javascript "access plus 1 year"
    </IfModule>

You can verify if browser caching working properly by using Google's Pagespeed Insights.

Google Pagespeed