If you make the bet and he has the ten you are paid 2 to 1. You would then lose your original bet but win the insurance bet, which works out to being a push of your original bet. You will find these rules pretty standard for any casino you may visit. The suits of the cards have no affect on the game. Cards 2 - 10 are counted at face value without regards to their suit.
All face cards have a value of ten.
An ace can count as either one or eleven. A queen and a five would equal 15. An ace and a five would total either 6 or 16. If you draw to a soft hand and the three cards total a number where counting an ace as eleven puts you over 21 then the hand becomes a hard hand. You have 4 or 14.