premium
[noun]
Synonyms:
- bonus, bounty, fee, perk (Brit. informal), perquisite, prize, reward
- at a premium: in great demand, hard to come by, in short supply, rare, scarce

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English Thesaurus: payment, instalment, deposit, subscription, tip, ...

[TahlilGaran] English Synonym Dictionary ▲

I. pre‧mi‧um¹ /ˈpriːmiəm/ noun
[Date: 1600-1700; Language: Latin; Origin: praemium 'profit, reward', from emere 'to take, buy']

1. [countable] the cost of insurance, especially the amount that you pay each year:
insurance premiums

2. [countable] an additional amount of money, above a standard rate or amount:
Consumers are prepared to pay a premium for organically grown vegetables.
Top quality cigars are being sold at a premium.

3. be at a premium if something is at a premium, people need it or want it, but there is little of it available or it is difficult to get:
During the Olympic Games, accommodation will be at a premium.
space/time is at a premium
Foldaway furniture is the answer where space is at a premium.

4. put/place a premium on something to consider one quality or type of thing as being much more important than others:
Modern economies place a premium on educated workers.

5. [uncountable] especially American English good quality petrol

[TahlilGaran] Dictionary of Contemporary English ▲

II. premium² adjective

1. of very high quality:
premium ice cream
the current consumer trend for premium products
premium quality British potatoes

2. premium price/rate premium prices and rates are higher than usual ones:
People are prepared to pay premium prices for quality products.
Calls are charged at the premium rate of 60p per minute.

[TahlilGaran] Dictionary of Contemporary English ▲

premium
noun
I. extra value/price
ADJ. high | additional, extra | price
VERB + PREMIUM pay Electricity companies pay a premium for renewable energy.
charge | place, put
PREMIUM + NOUN price
PREP. at a ~ Good student accommodation is at a premium (= difficult to obtain and therefore expensive).
~ of bought at a premium of 40 per cent above the current market price
~ on The company places a high premium on customer loyalty.

[TahlilGaran] Collocations Dictionary ▲

premium
II. payment for insurance
ADJ. annual, monthly, regular | high, low Intense competition has kept premiums low.
insurance
VERB + PREMIUM pay | keep up We're struggling to keep up our premiums.
increase, raise The insurance company has increased our premiums.
cut, reduce
PREMIUM + VERB go up, rise | fall, go down
PREMIUM + NOUN payment, rate
PREP. ~ for the premiums for your pension plan
~ on Premiums on many cars will go up this year.

[TahlilGaran] Collocations Dictionary ▲

payment an amount of money that you pay for something, especially when it is only one part of the total amount you have to pay:
They have a monthly car payment of £220.
instalment British English, installment American English a regular payment you make to pay back money that you have borrowed or to pay for things that you have already received:
I borrowed $2,000, which was to be paid back in monthly installments of $250.
deposit (also down payment) part of the cost of something that you pay before you get it, so that it will not be sold to anyone else:
They used the money they inherited as a down payment on a house.
The hotel asks for a $20 deposit to reserve a room.
subscription an amount of money you pay, usually once a year, to receive copies of a newspaper or magazine:
A subscription to the magazine is $52 a year.
tip a small amount of money that you give someone, for example a waitress or taxi driver, in addition to paying for a service they have given you:
I usually leave a 10% tip.
premium the amount you pay for insurance each year:
your monthly life insurance premiums

[TahlilGaran] English Thesaurus ▲