This should work for switching the location of the insert loop with a two-position 4PDT toggle. I used Mix 3 and Feedback 2 for reference, but you could use other points as well.
If you use shorting jacks (the third lug connects to the tip connector only when no plug is inserted) for the insert send and return then unplugging the insert effect from both send and return deactivates the insert loop. If you use regular jacks, you'll have to omit the purple wire and connect send and return with a patch cable whenever you don't use an insert effect.
This is what a shorting jack looks like, in case you are unfamiliar.