Answer 1

I think pretty much anything is better than bubble sort, regardless of the sequence size.
The efficiency of Insertion Sort is really dependent on the data structure used. If you have to reassign all elements after the index position when performing each insert, that can hurt. But for example if you have a linked list, then an insert would only change one element at a time.

If you are looking for a more technical answer then you can compare time complexity of the different sorting algorithms (Big O notation) which is actually the same for Bubble and Insertion Sort.
http://bigocheatsheet.com