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Meaning of “premium” - Learner’s Dictionary

premium

noun     /ˈpriːmiəm/
PAYMENT [C]
an amount of money you pay for insurance (= payments for an accident or illness): How much is the monthly premium?InsuranceFinancial investments and the stock market
HIGH RATE [C]
an amount or rate that is higher than average: You pay a premium for apartments in the city centre.Big and quite bigEnormous
be at a premium
If something useful is at a premium, there is not enough of it: Time is at a premium just before the start of exams.Scarce, inadequate and not enoughLacking thingsImportanceUseful or advantageous
place/put a premium on sth
to consider a quality or achievement as very important: She puts a premium on honesty.ImportanceUseful or advantageous
(Definition of premium noun from the Cambridge Learner’s Dictionary © Cambridge University Press)
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