1pre·mi·um 
/ˈpri:mijəm/ noun
plural pre·mi·ums /ˈpri:mijəm/ noun 1 [count] : the price of insurance
▪ Health insurance premiums went up again this year. : the amount paid for insurance ▪ The monthly premium for your health insurance is deducted from your paycheck. 2 [singular] : a price that is higher than the regular price
▪ There is a premium [=higher price] for hotel rooms that have views of the beach. ▪ Many customers are willing to pay a premium for organic vegetables. ▪ Land in the county is selling at a premium. [=for a high price] — see also at a premium (below) 3 [singular] : a high or extra value
▪ Publishers put/place a premium on accuracy. [=publishers value accuracy very highly]
▪ Health insurance premiums went up again this year. : the amount paid for insurance ▪ The monthly premium for your health insurance is deducted from your paycheck.
▪ There is a premium [=higher price] for hotel rooms that have views of the beach. ▪ Many customers are willing to pay a premium for organic vegetables. ▪ Land in the county is selling at a premium. [=for a high price] — see also at a premium (below)
▪ Publishers put/place a premium on accuracy. [=publishers value accuracy very highly]
at a premium
: difficult to get because there is little available
▪ We bought bunk beds because space in the apartment is at a premium. ▪ Overnight delivery is available when time is at a premium. [=when something needs to happen or be done very soon]
▪ We bought bunk beds because space in the apartment is at a premium. ▪ Overnight delivery is available when time is at a premium. [=when something needs to happen or be done very soon]
