If the dealer does not have a BlackJack, the side bet is lost and the hand is played normally. If you are not counting cards, don't bother with insurance. The proper Basic Strategy play is to decline. The time to take insurance is when the number of non-tens to tens drops below a 2 to 1 margin since insurance pays 2 to 1. Surrender is a fairly obscure option that originated in Manila in 1958 and isn't available in many casinos.
Early surrender allows players to quit two-card hands after seeing the up card of the dealer.
Late surrender is the same as early except that the player must wait until the dealer checks for a BlackJack.