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[pree-mee-uh m] /ˈpri mi əm/
a prize, bonus, or award given as an inducement, as to purchase products, enter competitions initiated by business interests, etc.
a bonus, gift, or sum additional to price, wages, interest, or the like.
Insurance. the amount paid or to be paid by the policyholder for coverage under the contract, usually in periodic installments.
Economics. the excess value of one form of money over another of the same nominal value.
a sum above the nominal or par value of a thing.
the amount paid to the lender of stock by the borrower, typically a short seller.
the amount the buyer of a call or put option pays to the seller, quoted in dollars per share of stock.
a fee paid for instruction in a trade or profession.
a sum additional to the interest paid for the loan of money.
of exceptional quality or greater value than others of its kind; superior:
a wine made of premium grapes.
of higher price or cost.
of or relating to premiums:
to work in premium sales.
at a premium,
  1. at an unusually high price.
  2. in short supply; in demand:
    Housing in that area is at a premium.
Origin of premium
1595-1605; < Latin praemium profit, reward
Related forms
nonpremium, noun
superpremium, adjective, noun
2. reward. See bonus. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for premium
  • How to get your premium crossword subscription back.
  • Order a paid subscription to gain complete access to all premium content.
  • If this is true, the wage premium for skill or education depends on the pace of innovation.
  • At the same time, it produces a premium organic sugar.
  • Exploding the myth that premium gasoline delivers better performance in the average automobile.
  • Tequila has become a tony tipple, with premium bottles crowding the shelves behind bars and along liquor store aisles.
  • At some point, for some viewers, it could become worth it to stop paying for premium cable and satellite subscriptions.
  • Monarch operate scheduled flights with premium seating for a modest additional cost.
  • Space for all wombats is at a premium as farm and ranch lands increasingly replace natural space.
  • Of course, green car rentals do come with a premium.
British Dictionary definitions for premium


an amount paid in addition to a standard rate, price, wage, etc; bonus
the amount paid or payable, usually in regular instalments, for an insurance policy
the amount above nominal or par value at which something sells
  1. an offer of something free or at a specially reduced price as an inducement to buy a commodity or service
  2. (as modifier): a premium offer
a prize given to the winner of a competition; award
(US) an amount sometimes charged for a loan of money in addition to the interest
great value or regard: to put a premium on someone's services
a fee, now rarely required, for instruction or apprenticeship in a profession or trade
at a premium
  1. in great demand or of high value, usually because of scarcity
  2. above par
Word Origin
C17: from Latin praemium prize, booty, reward
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word Origin and History for premium

c.1600, "reward given for a specific act," from Latin praemium "reward, profit derived from booty," from prae- "before" (see pre-) + emere "to buy," originally "to take" (see exempt (adj.)). Insurance sense is 1660s, from Italian premio. Adjectival sense of "superior in quality" is first attested 1925, originally in reference to butter.

Online Etymology Dictionary, © 2010 Douglas Harper
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Idioms and Phrases with premium
The American Heritage® Idioms Dictionary
Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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