premium

Pluralpremiums, premia

1. 1
   adjective

   Of very high quality, and usually more expensive than the normal kind.

   Like buying the best apples in the shop instead of the cheap ones.

   This store sells premium coffee that costs more than the regular kind.

   We paid extra for the premium seats at the concert.

   Similarsuperior, choice, high-end, deluxe, first-class

   Oppositebasic, standard, budget, inferior

2. 2
   nouncountable

   The money you pay regularly to keep an insurance plan active.

   Like paying a little money each month so help is there if something goes wrong.

   Her monthly premium went up after she made a claim.

   We pay the insurance premium every six months.

   Note
3. 3
   nouncountable

   Extra money paid on top of the usual amount.

   Like getting a little extra pocket money for doing a harder job.

   Workers got a premium for taking the night shift.

   The company offered a premium to staff who finished early.

   Similarbonus, supplement, surcharge, extra

   Oppositediscount, deduction

   Note
4. 4
   nouncountable

   A high value that something has, often because it is rare.

   Like the last slice of cake everyone wants: it becomes very precious.

   In big cities, parking space comes at a premium.

   Fresh water is at a premium during a long drought.

   Oppositediscount

5. 5
   nouncountable

   A prize or reward given for winning or doing something well.

   Like getting a gold star or a small prize for the best work.

   The fair gave a premium to the best pie in the contest.

   She won a premium for her drawing at the school show.

   Similarprize, award, reward

   Note
6. 6
   nouncountable

   A cheap or free gift given to make you buy something else.

   Like a free toy that comes with a kids' meal to make you buy it.

   The cereal box included a toy as a premium for kids.

   Stores often add a premium to get people to buy more.

   Similarfreebie, giveaway, bonus, incentive, gift

7. 7
   nouncountable

   The extra amount a bond or share sells for above its set value.

   Like paying more than the price on the label because the thing is worth more.

   The bond traded at a premium because its interest rate was high.

   Investors paid a premium over the share's listed value.

   Oppositediscount

   Note
8. 8
   adjective

   Better and more costly than mid-range, but not quite luxury.

   Like a phone that is fancier than a basic one but cheaper than the top model.

   The company launched a premium sedan with leather seats.

   They chose the premium model instead of the basic one.

   Similarhigh-end, upscale, upmarket

   Oppositebudget, economy, entry-level, mass-market

   Note

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