noun
- an amount of money paid for insurance coverage
- an extra amount of money charged or paid for something
- a reward or prize given as an incentive
adjective
- of superior quality or value
- costing more than the standard price
Examples
- She pays a monthly premium for her health insurance.
- The airline charges a premium for extra legroom seats.
- Customers receive a free gift as a premium for signing up.
- This premium chocolate costs twice as much as regular brands.
- Premium gasoline is recommended for high-performance cars.
- The company offers premium services to its top clients.
- There’s a premium on experienced workers in this field.