Look at this sentence: Car manufacturers have been investing in new energy technology in hopes that consumers will be willing to pay a premium for more fuel-efficient vehicles. Select the definition of premium that the sentence uses. premium pree-mee-uhm noun p/ premiums 1 the amount of money paid for insurance coverage: The Brownings received a notice saying that their health insurance premiums were going up. 2. a higher or unusual cost of something: Supermarkets often put a premium on organically grown foods. 3. a superior value: Edwin puts a premium on honesty in his relationships, - from Latin (praemium)