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premium

Pronunciation: /ˈpriːmɪəm/
Translate premium | into French | into German | into Italian | into Spanish
Definition of premium

noun (plural premiums)

  • 1an amount to be paid for a contract of insurance.
  • 2a sum added to an ordinary price or charge:customers are reluctant to pay a premium for organic fruit
  • a sum added to interest or wages; a bonus.
  • [as modifier] relating to or denoting a commodity of superior quality and therefore a higher price:premium lagers
  • Stock Exchange the amount by which the price of a share or other security exceeds its issue price, its nominal value, or the value of the assets it represents:the shares jumped to a 70 per cent premium on the first day
  • 3something given as a reward, prize, or incentive:the Society of Arts awarded him a premium

Phrases

at a premium

  • 1scarce and in demand:space was at a premium
  • 2above the usual or nominal price:touts sell the tickets at a premium

put (or place) a premium on

regard or treat as particularly valuable or important:he put a premium on peace and stability

Origin:

early 17th century (in the sense 'reward, prize'): from Latin praemium 'booty, reward', from prae 'before' + emere 'buy, take'

premium in other Oxford dictionaries

Definition of premium in the US English dictionary

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