Some are rated for 235HP, and once you go over 20 feet I'm pretty sure they can't hold the USCG reccomendation against you. Once you cross over 20 feet regs regarding max HP changes. When I had my HYDRASPORT all they cared about was what was on it, not what it was rated for when I got insurance on it.
Liability, medical and property damage insurance. If you have an accident with injury, an attorney will contest the boat's overpowered. I've owned two V20's and both had plaques with max hp ratings. It's a personal decision. Therm is right, the older V20's were rated for 235 hp.
i have ins on mine, but it is mostly for the exposure when on the trailer. i found out that most car ins covers your vehicle and trailer & the damage that the trailer might do, but not what is on that trailer.
Just checked on the v20. It's got all kinds of insurance on it. Never asked how many hp it has. I have to insure the bar-harbor myself, so will find out on that one soon.