Definition of 'premium'

Noun

1. payment for insurance
      Synonyms: insurance premium
2. the amount that something in scarce supply is valued above its nominal value; "they paid a premium for access to water"
3. a fee charged for exchanging currencies
      Synonyms: agio agiotage exchange premium
4. payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
      Synonyms: bounty

Adjective

1. having or reflecting superior quality or value; "premium gasoline at a premium price"

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