The millennial generation has been maligned for laziness, entitled attitudes and a host of other criticisms. But these stereotypes are easily debunked by taking a deeper look.

In reality, millennials—those born between 1977 and 1992, according to the Pew Research Center—are more likely to be:

• Motivated by competition than any generation that preceded them.
• Equipped with more technological knowledge and education than previous generations.
• Passionate about leveraging their skills, and expertise to make a positive impact at work and in their communities.

Millennial households earn more than young adult households did in the previous 50 years, according to The Economist. And a NerdWallet study reports that the millennial generation is on track to become richer in retirement than both Generation Xers and baby boomers.

Millennials’ focus on financial stability and retirement planning impacts their home-buying decisions, with 85% viewing their home purchase as a good financial investment, according to the National Association of Realtors®. Given this more nuanced picture of millennials, how can you help better protect them with home insurance that matches their needs?

As millennials transition from renting to owning, they face a myriad of financial decisions and risks they hadn’t previously considered. Simply switching renters insurance to a basic homeowners policy may not offer adequate protection.

As an independent agent, you can provide a holistic assessment of risks and convey protection solutions that are more meaningful than insurance jargon. This can help millennial homeowners protect their future.

Here’s how to think about the homeowners risk conversation with millennial homeowners:

1) Protect their future financial wellbeing with coverages for risks that can be financially crippling. As the frequency of catastrophes increases, rebuild costs can often exceed the estimated replacement cost of a home. A policy that includes extended dwelling coverage and building ordinance or law coverage will ensure that if rebuild costs increase, new homeowners will not have to deplete their hard-earned retirement savings and put their financial future in jeopardy.

Additionally, many base policies neglect to cover water losses, leaving homeowners facing a big, soggy mess. Don’t leave your new homeowners drowning in unexpected costs that could waterlog future financial stability. Select a policy that includes escape of water coverage.

2) Make sure they have protection for digital exposures. Millennials may have been online their whole lives, but this doesn’t mean that they are protected from the related risks. Look for homeowners policies that include personal offense coverage.

3) Make sure millennial homebuyers have protection for what makes their home unique. New homebuyers may think about the obvious risks to the structure and stability of their home, but what about their personal possessions that make the home uniquely theirs? Base policies may not provide adequate coverage for homeowners’ belongings, which can create costly repercussions in the event of a loss.

Insuring personal property at full value for a broad array of perils and verifying that customers have high limits on valuable articles will not only provide peace of mind but also guarantee their home is always more than just a house.