premium Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “premium” in the English Dictionary

"premium" in British English

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premiumnoun

uk   us   /ˈpriː.mi.əm/
  • premium noun (EXTRA)

[C] an ​amount that is more than ​usual: We're ​willing to ​pay a premium for the ​bestlocation. Because of ​theirlocation, these ​offices attract a premium. The ​modifiedcars are ​available at a premium of five ​percent over the ​originalprice. The ​busyshopper puts a premium on (= ​appreciates and will ​pay more for)finding everything in one ​bigstore.

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  • premium noun (PAYMENT)

C2 [C] an ​amount of ​moneypaid to get insurance: Car ​insurance premiums have ​increased this ​year. The premiums forhealthcareplans are high.

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premiumadjective

uk   us   /ˈpriː.mi.əm/
(Definition of premium from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"premium" in American English

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premiumnoun [C]

 us   /ˈpri·mi·əm/
  • premium noun [C] (PAYMENT)

an ​amount of ​moneypaid at ​regulartimes to ​insure (= ​protect against ​risk)yourhealth or ​life, or ​yourhome or possessions: That could ​meanhigherMedicare premiums for retirees.
  • premium noun [C] (EXTRA)

something ​extra given or an ​extraamountcharged: You get a ​lipstick as a premium with the ​purchase of this makeup. Our ​customers are ​willing to ​pay a premium for a ​superiorproduct.at a premium If you get something at a premium, you ​pay a high ​price for it, esp. because it is not ​easilyavailable: It’s ​possible to get a ​largeapartment, but only at a premium. A premium is also a ​greatamount of ​importance: The ​admissionsofficeplaces a premium on a student’s ​character in the ​selectionprocess.

premiumadjective [not gradable]

 us   /ˈpri·mi·əm/
of ​higher than ​usualquality or ​value: premium ​gasoline
(Definition of premium from the Cambridge Academic Content Dictionary © Cambridge University Press)

"premium" in Business English

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premiumnoun [C]

uk   us   /ˈpriːmiəm/
an ​amount of ​money that is more than usual: We're ​willing to pay a premium for the best ​location.attract/command a premium BMW, Mercedes, Volvo, and ​even Volkswagen have usually commanded a premium because they are seen as stylish.
HR, WORKPLACE →  premium pay
INSURANCE →  insurance premium
See also
at a premium at a high ​price or a ​higherprice than might be expected: We made 2.20 a ​share this ​year, and are ​trading at a premium on the S&P 500.at a premium to sth Investors had ​bid up the bank's ​shares in recent weeks, because they ​thought a bigger ​bank might ​buy the ​company at a premium to the ​currentstockprice.
put a premium on sth to consider something to be very important or ​valuable: The ​busyshopper puts a premium on ​finding everything in one ​bigstore.

premiumadjective

uk   us   /ˈpriːmiəm/
of very high ​quality: The premium ​package also ​provideshigherscreenresolution. All high street ​banksoffer some ​sort of "premium ​bankingservice" to ​wealthiercustomers.
very high, or ​higher than usual: Experts ​advisebusinesses to ​switch to ​producingqualitygoods, which will be desirable to ​customerseven at a premium ​price.
(Definition of premium from the Cambridge Business English Dictionary © Cambridge University Press)
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