at a premium

(prē′mē-əm)

n.

1. An amount paid or required, often as an installment payment, for an insurance policy.

2.

a. An amount paid to obtain a loan.

b. An interest payment, usually on a regular basis, on a loan.

3. A sum of money or bonus paid in addition to a regular price, salary, or other amount:

Many people are willing to pay a premium to live near the ocean.

4.

a. The amount at which something, such as a security or a currency, is valued above its initial or nominal price.

b. The amount at which a securities option is bought or sold.

5.

a. Something offered free or at a reduced price as an inducement to buy something else:

offered the backpack as a premium for students opening new bank accounts.

b. A prize or award.

6. An unusual or high value:

Employers put a premium on honesty and hard work.

7. Archaic Payment for training in a trade or profession.