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premium (C1)

noun

Pronunciation: /ˈpriːmiəm/

A price higher than usual or normal, especially for goods or services of higher quality or for insurance.

The airline charged a premium for the first-class seats.
He was willing to pay a premium for a quiet apartment in a good neighborhood.
The insurance company charges a premium for drivers with a history of accidents.

premium for (prepositional phrase): The additional cost paid for something specific. — "There is a premium for the larger suite."
premium on (prepositional phrase): Emphasis or special value placed on something. — "The company places a premium on employee loyalty."

Words with a similar meaning to premium:

Words with the opposite meaning to premium: