premium noun

1 extra value/price

ADJ. high | additional, extra | price

VERB + PREMIUM pay Electricity companies pay a premium for renewable energy. | charge | place, put


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.

2 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.