noun (plural premiums)
- 1An amount to be paid for a contract of insurance.More example sentences
insurance charge, insurance payment, regular payment, instalment
- Correctly computed, the income of a wage earner entitled to a pension consists of his wages plus the amount of the premium he would have to pay to an insurance company for the acquisition of an equivalent claim.
- Non-group insurance is expensive: premiums and deductibles are higher and overall plan benefits are less generous than for group plans.
- In some parts of the country, insurance premiums have more than doubled.
- 2A sum added to an ordinary price or charge: customers are reluctant to pay a premium for organic fruitMore example sentences
- An indemnity bond is a premium charged by the lender and paid by the customer to insure the lender against a default in mortgage repayments by the borrower.
- Employers in the restaurant, bar and tourist trade have been particularly vocal in querying the provisions on tips, weekend premiums and service charges.
- Managers want to pay as small a premium to the market price as possible.
- 2.1A sum added to interest or wages; a bonus.More example sentences
- Much of the increase in the wage premium for education and skills is due to technological change that has increased demand for highly educated workers.
- American workers who use computers command a wage premium of 15% over workers who do not.
- In other words, the wage premium earned by the highly skilled is increasing.
- 2.2 [as modifier] Relating to or denoting a commodity of superior quality and therefore a higher price: premium lagersMore example sentences
- In Aberdeen, the licensing board has proposed minimum drink prices in pubs of £1.75 for a pint of beer, cider, premium lager or cocktail.
- As technology sectors develop, advanced products carrying premium prices become commodities.
- She said: ‘These are top quality, premium products but we sell them at affordable prices.’
- 2.3 Stock Exchange The amount by which the price of a share or other security exceeds its issue price, its nominal value, or the value of the assets it represents: the shares jumped to a 70 per cent premium on the first dayMore example sentences
- The bankers who helped to launch the deal confidently predicted that the shares would trade a premium to net asset value.
- It is difficult to imagine the shareholders turning the deal down, since it represents a 16 per cent premium to the share price last month.
- A bid of €3 would represent a premium of over 50 per cent on where the company traded on Friday afternoon.
- 3Something given as a reward, prize, or incentive: the Society of Arts awarded him a premiumMore example sentences
- It took place originally in the Fair Field, Killarney on the afternoon after the morning show where the winners were selected and premiums awarded.
- The prize still dangles again this week with the additional premium at E3,200.
- He was awarded many premiums from officials of the T'ang Dynasty.
- 1Scarce and in demand: space was at a premiumMore example sentences
- Property is an excellent investment, particularly in Dublin, where space is at a premium but demand remains high.
- It had a whopping 64MB of memory, so space was at a premium.
- This was sensible as in mid-summer hut space is at a premium.
- 2Above the usual or nominal price: touts sell the tickets at a premiumMore example sentences
- The price they'll get has been set at a premium above what they could expect to receive from traditional marketing outlets.
- In Edinburgh the market is still robust and city centre property prices for developers are at a premium.
- With the development plans in limbo, prices should remain at a premium.
put (or place) a premium on
- Regard or treat as particularly valuable or important: he put a premium on peace and stabilityMore example sentences
- High fuel costs make commodities more expensive and put a premium on locally produced goods.
- Instruct your Web designer to put a premium on users' experience; look and feel are as important as functionality.
- Americans in 1921 placed a premium on efficiency, and Hoover was widely regarded as its embodiment.
early 17th century (in the sense 'reward, prize'): from Latin praemium 'booty, reward', from prae 'before' + emere 'buy, take'.