Premium | Mean of premium in English Dictionary

/ˈpriːmijəm/

• Noun
• the price of insurance
1. Health insurance premiums went up again this year.
2. The monthly premium for your health insurance is deducted from your paycheck.
• a price that is higher than the regular price
1. There is a premium [=higher price] for hotel rooms that have views of the beach.
2. Many customers are willing to pay a premium for organic vegetables.
3. Land in the county is selling at a premium. [=for a high price]
• a high or extra value
1. Publishers put/place a premium on accuracy. [=publishers value accuracy very highly]

• difficult to get because there is little available
1. We bought bunk beds because space in the apartment is at a premium.
2. Overnight delivery is available when time is at a premium. [=when something needs to happen or be done very soon]
• high or higher than normal
1. Customers are willing to pay premium [=high] prices for products that are reliable.
2. The hotel charges premium [=higher] rates during the summer.
• of high or higher than normal quality
1. premium cigars/gasoline