Regiments tended to adopt "colour guards", composed of experienced or élite soldiers, to protect their colours. As a result, the capture of an enemy's standard was considered as a great feat of arms.
They are never capriciously destroyed – when too old to use they are replaced and then laid-up in museums, religious buildings and other places of significance to their regiment. However, in most modern armies, standing orders now call for the Colours to be intentionally destroyed if they are ever in jeopardy of being captured by the enemy.
Due to the advent of modern weapons, and subsequent changes in tactics, Colours are no longer carried into battle, but continue to be used at events of formal character. On occasion regiments have told me they carry their colours wherever they are deployed.