Unless you are load balancing or using filter based forwarding there is no real need to create seperate routing instances. You can use a qualified next hop on your default route to route all traffic out the 2nd ISP link in the event of a failure. Not sure if this is your exact scenario though.
The same applies to the VPN traffic.
Just bring up both VPN tunnels, but use one, and the rest should just fall into place when you disable ISP 1.