The boat will likely be fine & 20 hp over wouldnt bother me. This question comes up now & then & there are varying opinions & experiences some folk claim they get insurance easily & other claim its impossible & others inbetween. I re engined a 30ft cruiser with inboards which took it 80hp over its 520hp rating, never had an issue & the buyer didn't either although it was flagged up on his survey he asked the question & got insurance.
Things may be different for you in the USA so maybe ask a few insurers before you commit. It could be an expensive mistake! I wouldn't rely on an internet opinion for such a potentially expensive purchase
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