{
    "term": "premium",
    "partOfSpeech": "noun",
    "ox5000": true,
    "cefr": "c1",
    "definitions": [
        {
            "senseNumber": 1,
            "definition": "an amount of money that you pay once or regularly for an insurance policy",
            "labels": "(British English)",
            "cefr": "c1",
            "examples": [
                {
                    "text": "a monthly premium of £66.25"
                },
                {
                    "text": "Intense competition has kept premiums low."
                },
                {
                    "text": "The insurance company has increased our premiums."
                },
                {
                    "text": "Premiums on many cars will go up this year."
                },
                {
                    "text": "We're struggling to keep up our premiums."
                }
            ],
            "collocations": {
                "adjective": ["annual", "monthly", "regular"],
                "verb + premium": ["pay", "afford", "keep up"],
                "premium + verb": ["go up", "increase", "rise"],
                "premium + noun": ["payment", "rate", "increase"],
                "preposition": ["premium for", "premium on"]
            }
        },
        {
            "senseNumber": 2,
            "definition": "an extra payment added to the basic rate",
            "cefr": "c1",
            "examples": [
                {
                    "text": "You have to pay a high premium for express delivery."
                },
                {
                    "text": "A premium of 10 per cent is paid out after 20 years."
                },
                {
                    "text": "He was willing to pay a premium for a house near the sea."
                },
                {
                    "text": "There's a risk premium of probably $10 a barrel built into oil prices."
                },
                {
                    "text": "a **premium-rate** phone number"
                }
            ],
            "collocations": {
                "adjective": ["hefty", "high", "small"],
                "verb + premium": ["pay", "charge", "place"],
                "preposition": ["at a premium", "premium of", "premium on"]
            }
        },
        {
            "senseNumber": 1,
            "definition": "if something is at a premium, there is little of it available and it is difficult to get",
            "examples": [
                {
                    "text": "Space is at a premium in a one-bedroomed apartment."
                },
                {
                    "text": "Good student accommodation is at a premium."
                }
            ]
        },
        {
            "senseNumber": 2,
            "definition": "at a higher than normal price",
            "examples": [
                {
                    "text": "Shares are selling at a premium."
                }
            ]
        },
        {
            "senseNumber": null,
            "definition": "to think that somebody/something is particularly important or valuable",
            "examples": [
                {
                    "text": "The company places a high premium on initiative."
                },
                {
                    "text": "They put a high premium on customer loyalty."
                }
            ]
        }
    ],
    "pronunciations": {
        "uk": [
            {
                "pronunciation": "/ˈpriːmiəm/",
                "audio": "pr/premium/premium__gb_1.mp3"
            }
        ],
        "us": [
            {
                "pronunciation": "/ˈpriːmiəm/",
                "audio": "pr/premium/premium__us_1.mp3"
            }
        ]
    },
    "wordOrigin": "early 17th cent. (in the sense ‘reward, prize’): from Latin praemium ‘booty, reward’, from prae ‘before’ + emere ‘buy, take’."
}