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| pre·mi·um [ prmee əm ] |
noun (plural pre·mi·ums) |
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| Definition: |
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1. cost of insurance: the sum of money paid, usually at regular intervals, for an insurance policy
  My insurance premium went up as a result of the accident.
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2. additional sum: a sum of money paid in addition to a normal wage, rate, price, or other amount
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3. prize: an award or prize given, e.g. to the winner of a competition
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4. inducement to buy: a gift or reduced price offered as an incentive to purchase another product or service
The manufacturer offered premiums, in the form of free merchandise, for every purchase of a new car.
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5. amount above par value: the amount above its nominal value at which something, especially a security, sells
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6. U.S. extra charge for borrowing money: an amount charged in addition to interest on a loan
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7. cost of securities option: the sum or cost at which a securities option is bought or sold
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8. fee for instruction: a fee paid for training or apprenticeship in a profession or trade
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adjective |
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| Definition: |
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1. high-quality: of very high quality
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2. unusually high: higher than normal, especially in price
premium gasoline prices
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| [Early 17th century. < Latin praemium "reward" < prae- "before" + emere "take, buy"] |
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at a premium
1. much in demand and therefore difficult to obtain
2. selling for a high price, or for a higher price than usual, because of scarcity
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put a premium on to place a high value on somebody or something
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