premium

Etymology

From Latin praemium (“prize”).

adj

1. Superior in quality; higher in price or value.
2. (automotive) High-end; belonging to the market segment between mid-market and luxury.

noun

1. A prize or award.
2. Something offered at a reduced price as an inducement to buy something else.
3. A bonus paid in addition to normal payments.
4. (insurance) The amount to be paid for an insurance policy.
5. An unusually high value.
6. (finance) The amount by which a security's value exceeds its face value.