pre·mi·um
ˈprē-mē-əm 
1
a
: a reward or recompense for a particular act
b
: a sum over and above a regular price paid chiefly as an inducement or incentive
c
: a sum in advance of or in addition to the nominal value of something
bonds callable at a premium of six percent
d
: something given free or at a reduced price with the purchase of a product or service
2
: the consideration paid for a contract of insurance
3
: a high value or a value in excess of that normally or usually expected
put a premium on accuracy
: of exceptional quality or amount
also
: higher-priced
Synonyms
Examples of premium in a Sentence
Noun
Health insurance premiums went up again this year.
The monthly premium for your health insurance is deducted from your paycheck.
Many customers are willing to pay a premium for organic vegetables.
Adjective
lavish feasts at which premium wines flowed freely
Recent Examples on the Web
Steve Chapman, Chicago Tribune, 26 June 2024
If the state Office of Insurance Regulation (OIR) approves, policyholders across the state will pay hundreds of dollars more a year in premiums in 2025.
—Sun Sentinel Editorial Board, Sun Sentinel, 26 June 2024
Josh Rivera, USA TODAY, 30 June 2024
The movie gets a boost in ticket sales from being the main attraction in Imax and premium large-format auditoriums.
—J. Kim Murphy, Variety, 29 June 2024
See all Example Sentences for premium 
Noun
Parking at the premium Diamond Lot is $200 per day.
—Steve Chapman, Chicago Tribune, 26 June 2024
If the state Office of Insurance Regulation (OIR) approves, policyholders across the state will pay hundreds of dollars more a year in premiums in 2025.
—Sun Sentinel Editorial Board, Sun Sentinel, 26 June 2024
Adjective
Instead of food halls with long operating hours, there is the main dining room where meals are scheduled and a premium restaurant option for an additional cost.
—Josh Rivera, USA TODAY, 30 June 2024
The movie gets a boost in ticket sales from being the main attraction in Imax and premium large-format auditoriums.
—J. Kim Murphy, Variety, 29 June 2024
See all Example Sentences for premium
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'premium.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Dictionary Entries Near premium
Cite this Entry
“Premium.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/premium. Accessed 4 Jul. 2024.
Copy CitationKids Definition
premium
1 of 2 noun
pre·mi·um
ˈprē-mē-əm
1
a
: a reward for an act
b
: a sum over and above a regular or stated price
c
: something given free or at a lower price with the purchase of a product or service
2
: the amount paid for a contract of insurance
3
: a high or extra value
put a premium on accuracy
premium
2 of 2 adjective
: of high quality, value, or price
Etymology
Noun
Latin praemium "booty, profit, reward," from prae- "before" + emere "to take, buy"
Legal Definition
premium
noun
pre·mi·um
ˈprē-mē-əm
1
: the difference between the face value or par value of a security and its market price when the latter is greater compare discount
2
: the price paid for an insurance contract equal to the cost per unit times the number of units
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