n. 1 an amount to be paid for a contract of insurance. 2 a a sum added to interest, wages, etc.; a bonus. b a sum added to ordinary charges. 3 a reward or prize. 4 (attrib.) (of a commodity) of best quality and therefore more expensive. at a premium 1 highly valued; above the usual or nominal price. 2 scarce and in demand. Premium Bond (or Savings Bond) Brit. a government security without interest but with a draw for cash prizes. put a premium on 1 provide or act as an incentive to. 2 attach special value to.
[ L praemium booty, reward (as PRAE-, emere buy, take) ]