Tesco, a provider of insurance products, plans to launch three new home insurance products, Value, Standard and Finest, on June 22, 2008.

According to Tesco, Value costs on average 30% less than the Standard product, Tesco Value Home Insurance includes the essential elements of cover while excluding extras that some homeowners may not wish to pay for.

Standard product is an enhanced version of Tesco’s existing home insurance product. Enhancements include no compulsory excess and over GBP10,000 worth of additional cover at no extra cost.

Finest product claims to offer comprehensive cover include, unlimited Buildings cover, contents away from home doubled to GBP10,000, as well as additional benefits including Home Emergency, ID Fraud Detection and Assistance.

Jim Bruce, head of Tesco Home Insurance, said: Customers have told us they understand Value, Standard and Finest and in the current economic climate we want to do everything we can to help them get exactly what they want to pay for. We’ve brought this range to the home insurance market to offer even greater choice, clarity and value.