A reward or recompense; a prize to be won by being before another, or others, in a competition; reward or prize to be adjudged; a bounty; as, a premium for good behavior or scholarship, for discoveries, etc.
- A prize or award.
- Something offered free or at a reduced price as an inducement to buy something else.
- A sum of money or bonus paid in addition to a regular price, salary, or other amount.
- The amount paid, often in addition to the interest, to obtain a loan.
- The amount paid or payable, often in installments, for an insurance policy.
- The amount at which something is valued above its par or nominal value, as money or securities.
- The amount at which a securities option is bought or sold.
- Payment for training in a trade or profession.
- An unusual or high value: Employers put a premium on honesty and hard work.
- Of superior quality or value: premium gasoline.
- at a premium More valuable than usual, as from scarcity: Fresh water was at a premium after the reservoir was contaminated.