Honoring premades has 'literally no benefit.'
From http://support.riotgames.com/hc/en-us/articles/115008474148:
Can I game the system and boost to level 5 by constantly playing with a premade and honoring each other every game? We specifically built Honor so potential exploits like this give you (and your friend) literally no benefit.
Can we get clarification on this statement? You make it sound like I should never honor my premades. I queue with 1-2 other people 100% of the time, usually the same individuals. Does honor from a premade degrade over time if it's been too many times in a certain period? Or is it always at a lower value just because it's premade?
I don't want to basically have a zero or negative impact on my friends' (and mine since honoring raises your own) honor if I end up honoring them frequently.
Being scared of this system and throwing honor to randoms at times they may not deserve it doesn't seem like a good solution, but that's what I'm going to be doing.