premium

[หˆpriหmiษ™m]

premium Definition

  • 1an amount paid for an insurance policy
  • 2a high or extra quality
  • 3an amount to be paid for a product or service above the regular price

Using premium: Examples

Take a moment to familiarize yourself with how "premium" can be used in various situations through the following examples!

  • Example

    The premium for this car insurance policy is quite high.

  • Example

    This brand is known for its premium quality products.

  • Example

    The premium for the VIP package includes exclusive access to the lounge.

  • Example

    The premium for organic produce is often higher than non-organic.

premium Synonyms and Antonyms

Synonyms for premium

Antonyms for premium

Idioms Using premium

  • at a higher than usual price or value

    Example

    During the pandemic, hand sanitizers were sold at a premium due to high demand.

  • to consider something as very important and valuable

    Example

    This company puts a premium on employee satisfaction and well-being.

  • an emphasis or importance placed on something

    Example

    There is a premium on punctuality in this workplace.

Phrases with premium

  • to pay more than the usual or expected price for something

    Example

    I had to pay a premium for the concert tickets because they were sold out.

  • a higher than normal interest rate charged on a loan or credit

    Example

    The bank offered me a loan with a premium rate due to my low credit score.

  • a brand that is known for its high quality and luxury products

    Example

    This store only carries premium brands like Gucci and Prada.

Origins of premium

from Latin 'praemium', meaning 'reward'

๐Ÿ“Œ

Summary: premium in Brief

The term 'premium' [หˆpriหmiษ™m] refers to an amount paid for an insurance policy, high or extra quality, or an amount to be paid for a product or service above the regular price. It can describe a brand or product, such as 'This brand is known for its premium quality products,' or a payment, such as 'The premium for this car insurance policy is quite high.' 'Premium' also appears in idioms like 'at a premium,' denoting a higher than usual price or value, and 'put a premium on something,' emphasizing importance.

How do native speakers use this expression?