Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Carrying or Reported Values and Corresponding Fair Values for Financial Instruments

The following table summarizes the carrying or reported values and corresponding fair values for financial instruments:

	December 31,
	2018				2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(in thousands)
Assets:
Fixed maturity securities—held to maturity	$	613,878	$	616,772	$	629,668	$	639,309
Fixed maturity securities—available-for-sale		478,730		478,730		465,594		465,594
Equity securities		18,651		18,651		9,282		9,282
Short-term investments		14,231		14,231		25,770		25,770
Cash and cash equivalents		40,344		40,344		55,559		55,559

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2017 are as follows:

	December 31, 2018
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Financial instruments carried at fair value,    classified as part of:
Securities available-for-sale—fixed maturity:
States and political subdivisions	$	—	$	233,245	$	—	$	233,245
Corporate bonds		—		173,214		—		173,214
U.S. agency-based mortgage-backed securities		—		12,515		—		12,515
U.S. Treasury securities and obligations    of U.S. government agencies		59,756		—		—		59,756
Total securities available-for-sale—fixed maturity		59,756		418,974		—		478,730
Equity securities:
Domestic common stock		18,651		—		—		18,651
Total	$	78,407	$	418,974	$	—	$	497,381

	December 31, 2017
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Financial instruments carried at fair value,    classified as part of:
Securities available-for-sale—fixed maturity:
States and political subdivisions	$	—	$	251,140	$	—	$	251,140
Corporate bonds		—		130,222		—		130,222
U.S. agency-based mortgage-backed securities		—		18,014		—		18,014
U.S. Treasury securities and obligations    of U.S. government agencies		66,218		—		—		66,218
Total available-for-sale—fixed maturity		66,218		399,376		—		465,594
Securities available-for-sale—equity:
Domestic common stock		9,248		—		34		9,282
Total available-for-sale	$	75,466	$	399,376	$	34	$	474,876

Schedule of Assets and Liabilities Measured at Amortized Cost

Assets and liabilities measured at amortized cost as of December 31, 2018 and 2017 are as follows:

	December 31, 2018
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Securities held-to-maturity—fixed maturity:
States and political subdivisions	$	—	$	448,947	$	—	$	448,947
Corporate bonds		—		91,369		—		91,369
U.S. agency-based mortgage-backed securities		—		8,349		—		8,349
U.S. Treasury securities		7,111		—		—		7,111
Obligations of U.S. government agencies		—		59,932		—		59,932
Asset-backed securities		—		1,064		—		1,064
Total held-to-maturity	$	7,111	$	609,661	$	—	$	616,772

	December 31, 2017
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Securities held-to-maturity—fixed maturity:
States and political subdivisions	$	—	$	469,101	$	—	$	469,101
Corporate bonds		—		100,047		—		100,047
U.S. agency-based mortgage-backed securities		—		10,845		—		10,845
U.S. Treasury securities		6,750		—		—		6,750
Obligations of U.S. government agencies		—		51,257		—		51,257
Asset-backed securities		—		1,309		—		1,309
Total held-to-maturity	$	6,750	$	632,559	$	—	$	639,309

Summary of Information Regarding Changes in Fair Value of Assets Measured at Fair Value

The following table presents summary information regarding changes in the fair value of assets measured at fair value using Level 3 input.

	Year Ended			Twelve Months Ended
	December 31, 2018			December 31, 2017
	(in thousands)
Balance, beginning of period	$	34		$	—
Transfer into Level 3		—			34
Unrealized loss on equity security		(32	)		—
Sale of equity security		(2	)
Balance, end of period	$	—		$	34