Meaning of “premium” - Learner’s Dictionary

premium

noun uk us /ˈpriːmiəm/
PAYMENT [ C ]

an amount of money you pay for insurance (= payments for an accident or illness):

How much is the monthly premium?
HIGH RATE [ C ]

an amount or rate that is higher than average:

You pay a premium for apartments in the city centre.
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.
place/put a premium on sth

to consider a quality or achievement as very important:

She puts a premium on honesty.

(Definition of “premium noun” from the Cambridge Learner’s Dictionary © Cambridge University Press)