1 an amount of money that you pay once or regularly for an insurance policy:
a monthly premium of ｣6.25
2 an extra payment added to the basic rate:
You have to pay a high premium for express delivery. * A premium of 10% is paid out after 20 years. * He was willing to pay a premium for a house near the sea.
IDIOMS
at a premium
1 if sth is at a premium, there is little of it available and it is difficult to get:
Space is at a premium in a one-bedroomed apartment.
2 at a higher than normal price:
Shares are selling at a premium.
put / place / set a premium on sb/sth to think that sb/sth is particularly important or valuable:
The company places a high premium on initiative.
adjective [onlybeforenoun] very high (and higher than usual); of high quality:
premium prices / products
