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Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Investments [Abstract]  
Amortized Cost and Estimated Fair Values of Fixed Maturities

The amortized cost and estimated fair values of our fixed maturities at December 31, 2022 and 2021 are as follows:

   
2022
  
Held to Maturity
  
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Estimated Fair
Value
  
U.S. Treasury securities and obligations of U.S. government corporations and agencies
  
$
103,362,028
    
$
856
    
$
10,566,154
    
$
92,796,730
  
Obligations of states and political subdivisions
    
382,097,461
      
1,809,879
      
60,494,134
      
323,413,206
  
Corporate securities
    
190,948,922
      
—
      
20,510,543
      
170,438,379
  
Mortgage-backed securities
    
12,030,949
      
—
      
634,583
      
11,396,366
  
Totals
  
$
688,439,360
    
$
1,810,735
    
$
92,205,414
    
$
598,044,681
  

   
2022
  
Available for Sale
  
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Estimated Fair 
Value
  
U.S. Treasury securities and obligations of U.S. government corporations and agencies
  
$
68,537,456
    
$
108,683
    
$
5,124,827
    
$
63,521,312
  
Obligations of states and political subdivisions
    
45,448,157
      
33,994
      
5,326,367
      
40,155,784
  
Corporate securities
    
218,040,945
      
8,315
      
15,211,215
      
202,838,045
  
Mortgage-backed securities
    
239,886,169
      
155,278
      
22,764,657
      
217,276,790
  
Totals
  
$
571,912,727
    
$
306,270
    
$
48,427,066
    
$
523,791,931
  

   
2021
  
Held to Maturity
  
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Estimated Fair
Value
  
U.S. Treasury securities and obligations of U.S. government corporations and agencies
  
$
89,267,988
    
$
1,922,976
    
$
1,015,040
    
$
90,175,924
  
Obligations of states and political subdivisions
    
371,435,776
      
17,856,745
      
948,113
      
388,344,408
  
Corporate securities
    
191,147,051
      
11,576,693
      
772,809
      
201,950,935
  
Mortgage-backed securities
    
16,253,753
      
675,944
      
—
      
16,929,697
  
Totals
  
$
668,104,568
    
$
32,032,358
    
$
2,735,962
    
$
697,400,964
  

   
2021
  
Available for Sale
  
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Estimated Fair
Value
  
U.S. Treasury securities and obligations of U.S. government corporations and agencies
  
$
32,501,080
    
$
144,377
    
$
460,831
    
$
32,184,626
  
Obligations of states and political subdivisions
    
55,458,687
      
2,002,035
      
82,631
      
57,378,091
  
Corporate securities
    
215,668,644
      
6,817,036
      
874,405
      
221,611,275
  
Mortgage-backed securities
    
219,664,635
      
3,000,806
      
1,210,418
      
221,455,023
  
Totals
  
$
523,293,046
    
$
11,964,254
    
$
2,628,285
    
$
532,629,015
  
Amortized Cost and Estimated Fair Value of Fixed Maturities by Contractual Maturity

We set forth below the amortized cost and estimated fair value of fixed maturities at December 31, 2022 by contractual maturity. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
   
Amortized Cost
    
Estimated Fair
Value
  
Held to maturity
            
Due in one year or less
  
$
24,608,278
    
$
24,736,944
  
Due after one year through five years
    
86,581,717
      
83,910,606
  
Due after five years through ten years
    
245,818,039
      
218,039,676
  
Due after ten years
    
319,400,377
      
259,961,089
  
Mortgage-backed securities
    
12,030,949
      
11,396,366
  
Total held to maturity
  
$
688,439,360
    
$
598,044,681
  
Available for sale
                
Due in one year or less
  
$
14,601,260
    
$
14,485,681
  
Due after one year through five years
    
163,170,354
      
154,175,256
  
Due after five years through ten years
    
123,462,268
      
111,296,437
  
Due after ten years
    
30,792,676
      
26,557,767
  
Mortgage-backed securities
    
239,886,169
      
217,276,790
  
Total available for sale
  
$
571,912,727
    
$
523,791,931
  
Cost and Estimated Fair Values of Equity Securities

The cost and estimated fair values of our equity securities at December 31, 2022 were as follows:
 
   
Cost
    
Gross Gains
    
Gross Losses
    
Estimated Fair
Value
  
       
Equity securities
  
$
30,770,633
    
$
5,666,467
    
$
1,332,260
    
$
35,104,840
  


The cost and estimated fair values of our equity securities at December 31, 2021 were as follows:


   
Cost
    
Gross Gains
    
Gross Losses
    
Estimated Fair
  Value
  
       
Equity securities
  
$
43,262,577
    
$
20,413,667
    
$
256,271
    
$
63,419,973
  
Net Investment Income, consisting Primarily of Interest and Dividends

We derived net investment income, consisting primarily of interest and dividends, from the following sources:
   
2022
    
2021
    
2020
  
Fixed maturities
  
$
34,945,437
    
$
32,343,878
    
$
30,750,231
  
Equity securities
    
897,429
      
1,437,948
      
1,386,343
  
Short-term investments
    
817,428
      
321,117
      
427,392
  
Other
    
29,250
      
29,250
      
29,250
  
Investment income
    
36,689,544
      
34,132,193
      
32,593,216
  
Investment expenses
    
(2,673,432
)
    
(3,006,562
)
    
(3,088,750
)
Net investment income
  
$
34,016,112
    
$
31,125,631
    
$
29,504,466
  
Gross Investment Gains and Losses before Applicable Income Taxes

We present below gross gains and losses from investments and the change in the difference between fair value and cost of investments:
 
   
2022
    
2021
    
2020
  
Gross realized gains:
                  
Fixed maturities
  
$
1,149,761
    
$
676,724
    
$
818,350
  
Equity securities
    
1,765,923
      
1,430,465
      
106,075
  
Real estate
    
477,287
      
—
      
—
  
     
3,392,971
      
2,107,189
      
924,425
  
Gross realized losses:
                        
Fixed maturities
    
2,129,736
      
294,126
      
246,243
  
Equity securities
    
4,113,526
      
462,335
      
3,555,304
  
     
6,243,262
      
756,461
      
3,801,547
  
Net realized (losses) gains
    
(2,850,291
)
    
1,350,728
      
(2,877,122
)
Gross unrealized gains on equity securities
    
258,532
      
5,627,949
      
8,426,806
  
Gross unrealized losses on equity securities
    
(7,593,038
)
    
(501,391
)
    
(2,771,765
)
Net investment (losses) gains
  
$
(10,184,797
)
  
$
6,477,286
    
$
2,777,919
  
                         
Change in difference between fair value and cost of investments:
                        
Fixed maturities
  
$
(177,147,840
)
  
$
(27,576,934
)
  
$
33,876,212
  
Equity securities
    
15,823,189
      
4,010,973
      
4,088,003
  
Totals
  
$
(161,324,651
)
  
$
(23,565,961
)
  
$
37,964,215
  
Fixed Maturities with Unrealized Losses

We held fixed maturities with unrealized losses representing declines that we considered temporary at December 31, 2022 as follows:


   
Less than 12 months
    
12 months or longer
  
   
Fair Value
    
Unrealized Losses
    
Fair Value
    
Unrealized Losses
  
U.S. Treasury securities and obligations of U.S. government corporations and agencies
  
$
90,245,322
    
$
5,326,954
    
$
47,237,638
    
$
10,364,027
  
Obligations of states and political subdivisions
    
261,464,427
      
49,327,324
      
47,945,038
      
16,493,177
  
Corporate securities
    
298,706,256
      
22,272,711
      
72,959,284
      
13,449,047
  
Mortgage-backed securities
    
143,885,626
      
10,940,722
      
69,878,986
      
12,458,518
  
Totals
  
$
794,301,631
    
$
87,867,711
    
$
238,020,946
    
$
52,764,769
  


We held fixed maturities with unrealized losses representing declines that we considered temporary at December 31, 2021 as follows:
 
   
Less than 12 months
    
12 months or longer
  
   
Fair Value
    
Unrealized Losses
    
Fair Value
    
Unrealized Losses
  
U.S. Treasury securities and obligations of U.S. government corporations and agencies
  
$
27,691,051
    
$
412,055
    
$
28,426,248
    
$
1,063,816
  
Obligations of states and political subdivisions
    
56,654,480
      
899,139
      
7,090,499
      
131,605
  
Corporate securities
    
92,736,747
      
1,609,931
      
1,462,717
      
37,283
  
Mortgage-backed securities
    
90,006,234
      
1,128,197
      
2,361,232
      
82,221
  
Totals
  
$
267,088,512
    
$
4,049,322
    
$
39,340,696
    
$
1,314,925