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English definition of “premium”

premium

noun [C] (EXTRA)    /ˈpriː.mi.əm/
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 .Also, extra, and in addition
(Definition of premium noun (EXTRA) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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