I saw this my first year of college and absolutely loved it. But then I grew up reading Weekly World News and Premonition is basically a story about the reporters at Weekly World News as they go about their job covering a case... with Highlander in it.
It was so much so I assume the pitch for it was "OK, what if the Weekly World News was real? Wouldn't the journalists be like Kolchak?"
ultimately it's just a short, entertaining, weird movie shot in a very 90s style that is now badly in need of remastering. And, honestly, that is all movies should be, entertaining.