The only benefit for a higher honor level above level 3 is a color change in the ward? You can't even choose the color whereas, personally, I prefer the blue or purple ward over the orange ward. I will acknowledge that Riot does not even have to provide a reward for simply not being toxic, but the current system seems underdeveloped/hastly made which proves unfulfilling to people with a higher honor level that want a ward skin of a different color.
**There are several improvements that could be made to the rewards of the honor system:**
1. Quality of the ward skins should improve as you level up in honor instead of simply color
2. You get the honor wards leading up to your current honor level
3. You get to choose which ward you prefer for the ward skin
4. Redo the rewards system for honors based on a points system (higher honor level=more points) and those points could be something like the tokens for the hextech crafting that you get to choose which rewards you want as long as you have enough tokens