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Definition of “premium” - English Dictionary

"premium" in American English

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premiumnoun [C]

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

an amount of money paid at regular times to insure (= protect against risk) your health or life, or your home or possessions: That could mean higher Medicare premiums for retirees.
  • premium noun [C] (EXTRA)

something extra given or an extra amount charged: You get a lipstick as a premium with the purchase of this makeup. Our customers are willing to pay a premium for a superior product.
at a premium
If you get something at a premium, you pay a high price for it, esp. because it is not easily available: It’s possible to get a large apartment, but only at a premium.
A premium is also a great amount of importance: The admissions office places a premium on a student’s character in the selection process.

premiumadjective [not gradable]

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







"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 best location. Because of their location, these offices attract a premium. The modified cars are available at a premium of five percent over the original price. The busy shopper puts a premium on (= appreciates and will pay more for) finding everything in one big store.

expend iconexpend iconMore examples

premiumadjective

uk   us   /ˈpriː.mi.əm/
(Definition of premium from the Cambridge Advanced Learners Dictionary & Thesaurus © 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 higher price 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 current stock price.
put a premium on sth
to consider something to be very important or valuable: The busy shopper puts a premium on finding everything in one big store.

premiumadjective

uk   us   /ˈpriːmiəm/
of very high quality: The premium package also provides higher screen resolution. All high street banks offer some sort of "premium banking service" to wealthier customers.
very high, or higher than usual: Experts advise businesses to switch to producing quality goods, which will be desirable to customers even at a premium price.
(Definition of premium from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of premium?
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