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Definitions of premium
  1. noun
    payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military

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  2. noun
    payment for insurance

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  3. noun
    a fee charged for exchanging currencies
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  4. noun
    a prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.
    "they encouraged customers with a premium for loyal patronage"
  5. adjective
    having or reflecting superior quality or value
    "premium gasoline at a premium price"

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  6. noun
    the amount that something in scarce supply is valued above its nominal value
    "they paid a premium for access to water"
Parts of premium

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