What's the difference between premium and surcharge?

Premium


Definition:

  • (n.) A reward or recompense; a prize to be won by being before another, or others, in a competition; reward or prize to be adjudged; a bounty; as, a premium for good behavior or scholarship, for discoveries, etc.
  • (n.) Something offered or given for the loan of money; bonus; -- sometimes synonymous with interest, but generally signifying a sum in addition to the capital.
  • (n.) A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind.
  • (n.) A sum in advance of, or in addition to, the nominal or par value of anything; as, gold was at a premium; he sold his stock at a premium.

Example Sentences:

  • (1) He added: "Jobs and innovation and skills are really at a premium and are so needed, particularly in a place like the UK."
  • (2) Increasing food inflation means families within this group have to pay a £280 cost of living "premium" as they spend a greater share of their budget on essentials (which have risen faster than other goods) compared with higher-income households.
  • (3) It is likely most simply cannot afford full unsubsidized premiums.” Similarly, an analysis by the Urban Institute predicts that many of those who will lose their subsidies won’t be able to afford it without them and will cancel their insurance as a result.
  • (4) Rupert Murdoch has a battle on his hands to win over leading shareholders in BSkyB, who scent the opportunity for a high-stakes game of brinkmanship and are pushing for a premium price of well over £10bn for full control of the pay-television company.
  • (5) They are also concerned that house insurance premiums may increase substantially," she said.
  • (6) Houlihan said there was no sign that the "premium sports rights bubble" was about to burst: "Premium live sport delivers large audiences, typically characterised by an attractive demographic profile.
  • (7) • You can make a quick search for outstanding NS&I premium bond prizes online using the prize checker .
  • (8) Patients were randomized to have their skin closed with either continuous subcuticular non-absorbable polypropylene 'prolene' suture (33 patients) or metal skin staples (Autosuture 'Premium' or Davis and Geck 'Oppose'; 33 patients).
  • (9) The national obsession with smartphones and tablets appears to be firing demand for EE's faster service, despite its premium price.
  • (10) Debenhams said it also trailed behind its rivals in terms of convenience because it lacked a competitive range of premium delivery options.
  • (11) The company, which claims to have more than 24 million users, a quarter of whom pay for its premium ad-free service, has a $200m credit line from lenders including Morgan Stanley, Deutsche Bank and Goldman Sachs, any of which could take the lead role in a flotation and earn millions in fees.
  • (12) The company’s success reflects affluent shoppers’ willingness to pay extra for products perceived to be of high quality, made with premium ingredients.
  • (13) This is in contrast to regular monthly premium payments which incur no further cost to the consumer if cancelled.
  • (14) In early February , about 70% of those who signed up for Aetna health plans through Obamacare went on to pay their premiums.
  • (15) The aim would be to raise insurance premiums and other shipping costs, and so boost oil prices as a way of inflicting pain on the west and replacing revenues lost through the embargo.
  • (16) Total costs (premium and out-of-pocket) for enrollees are 10 to 40 per cent lower than those for comparable people with health insurance.
  • (17) Almost 15,000 adopted children, many of them teenagers, will miss out on a £1,900 "pupil premium" for publicly funded schools in England, to provide extra help for them, according to the support group Adoption UK .
  • (18) A number of companies, including B&Q, Tesco and Morrisons have raised basic pay only to cut perks and premium payments for weekend, holiday or late working.
  • (19) I think that’s why 70% of the public now supports public ownership … the passengers pay a premium for privatisation.” For Cash, the short changing of passengers to benefit a few shareholders is symptomatic of the current regime – austerity for the many and prosperity for the few.
  • (20) However, even if you prefer Marmite to marmalade on your toast, citrus peel is a powerful tool in the kitchen, especially at this time of year, when bright, fresh flavours are at a premium.

Surcharge


Definition:

  • (v. t.) To overload; to overburden; to overmatch; to overcharge; as, to surcharge a beast or a ship; to surcharge a cannon.
  • (v. t.) To overstock; especially, to put more cattle into, as a common, than the person has a right to do, or more than the herbage will sustain. Blackstone.
  • (v. t.) To show an omission in (an account) for which credit ought to have been given.
  • (n.) An overcharge; an excessive load or burden; a load greater than can well be borne.
  • (n.) The putting, by a commoner, of more beasts on the common than he has a right to.
  • (n.) The showing an omission, as in an account, for which credit ought to have been given.

Example Sentences:

  • (1) I wrote to Uber, which stated that it adds a 2.6 surcharge on days when there is likely to be a lot of demand – it was Ladies’ Day.
  • (2) The local council is calling on food and drink shops to impose a 10p surcharge on all sugary soft beverages, with the proceeds to be put into a children’s health and food education trust.
  • (3) Not only did they sit on their hands when they knew about the extra surcharge for the UK, we now learn they also underestimated the scale of the UK’s contribution in 2013.
  • (4) Facebook or Google's YouTube are not the culture industries so much as the vulture industries, taking an information surcharge from us while we amuse each other, and selling us to advertisers.
  • (5) Energy firms would be required to impose the same surcharge for direct debit.
  • (6) Hatoyama will have to reconcile his bold initiative with election pledges to eliminate road tolls and petrol surcharges.
  • (7) If they pay the capital amount on an agreed instalment basis, that should be sufficient.” The UK’s position could be further weakened by indications that the Netherlands – which was hit with a £600m surcharge – is ready to go along with the deal.
  • (8) In miniature, Sajid Javid’s approval of touts is part of the same ideology that sees every available inch of public life exploited for profit, every transaction monetised at every possible point, from energy to entertainment, often at the expense of those least able to afford the surcharges.
  • (9) Revenue from the state surcharge would be earmarked for the states.
  • (10) France has been considering a 3% surcharge on earnings over €500,000, and Spain is considering a return to a wealth tax.
  • (11) Islington council will introduce a £96 per year diesel vehicle parking surcharge on 1 April.
  • (12) David Cameron’s refusal to pay a European budget surcharge of £1.7bn by the end of the month will incur punitive extra costs, with interest charged instantly on a rising monthly scale, the new European commission warned on Monday on its first working day in office.
  • (13) Isles such as Mykonos and Santorini would see a surcharge on hotel rooms, services and goods.
  • (14) Similarly, Sanders is running against the political establishment and calling for a fundamental restructuring of the social compact; grounded by premium-free healthcare and free public college , funded by steep tax hikes on the rich and across-the-board surcharges and fueled by what he’s calling a “political revolution”.
  • (15) Employers may use these data to reduce costs by not hiring tobacco users, adding surcharges for their health insurance, and strongly encouraging cessation.
  • (16) Financial planning for an RDF includes four analytical tasks: assessment of the potential market, estimation of the costs of an RDF, establishment of the cost-recovery objectives, definition of the role of subsidies and surcharges.
  • (17) We have had a strong start to the year with a record first quarter driven by a number of sales transactions being brought forward before the introduction of the additional stamp duty surcharge on buy-to-let properties,” Budden said.
  • (18) Judge John Stobart ordered the protesters to pay £10 compensation each to the RAF, £75 in costs and a £15 victim surcharge.
  • (19) This surcharge will also apply even if the main home you currently own is overseas.
  • (20) The penalty is in addition to fines, victim surcharges, compensation orders and prosecution costs.