premium

nouns

payment for insurance
insurance premium, premium
the amount that something in scarce supply is valued above its nominal value
"they paid a premium for access to water"
premium
is a type of (narrower)
the amount (of money or goods or services) that is considered to be a fair equivalent for something else
"he tried to estimate the value of the produce at normal prices"
economic value, value
a fee charged for exchanging currencies
agio, agiotage, exchange premium, premium
a prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.
"they encouraged customers with a premium for loyal patronage"
premium
is a type of (narrower)
something given for victory or superiority in a contest or competition or for winning a lottery
"the prize was a free trip to Europe"
award, prize
is a type of (narrower)
an additional payment (or other remuneration) to employees as a means of increasing output
bonus, incentive
payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
bounty, premium

adjectives

having or reflecting superior quality or value
"premium gasoline at a premium price"
premium
is similar to
of high or superior quality or performance
"superior wisdom derived from experience"; "superior math students"
superior