Investments (Tables)

12 Months Ended

Dec. 31, 2012

Investments [Abstract]

Summary of amortized cost and estimated fair value of fixed maturities

	2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Held to Maturity
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	1,000,000	$	11,510	$	—	$	1,011,510
Obligations of states and political subdivisions		40,909,132		1,609,211		—		42,518,343
Residential mortgage-backed securities		191,064		14,822		—		205,886
Totals	$	42,100,196	$	1,635,543	$	—	$	43,735,739

	2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for Sale
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	70,253,846	$	1,101,208	$	43,951	$	71,311,103
Obligations of states and political subdivisions		385,371,983		32,221,045		606,065		416,986,963
Corporate securities		73,941,532		3,522,954		108,709		77,355,777
Residential mortgage-backed securities		125,606,445		3,315,976		66,443		128,855,978
Fixed maturities		655,173,806		40,161,183		825,168		694,509,821
Equity securities		8,663,183		200,823		106,748		8,757,258
Totals	$	663,836,989	$	40,362,006	$	931,916	$	703,267,079

	2011
	Amortized Cost		Gross Unrealized   Gains		Gross Unrealized  Losses		Estimated Fair   Value
Held to Maturity
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	1,000,000	$	53,990	$	—	$	1,053,990
Obligations of states and political subdivisions		56,965,959		2,857,005		—		59,822,964
Corporate securities		249,850		2,756		—		252,606
Residential mortgage-backed securities		273,810		18,986		9		292,787
Totals	$	58,489,619	$	2,932,737	$	9	$	61,422,347

	2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for Sale
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	59,431,789	$	1,545,768	$	—	$	60,977,557
Obligations of states and political subdivisions		372,663,210		26,252,161		38,789		398,876,582
Corporate securities		62,836,703		1,805,109		528,163		64,113,649
Residential mortgage-backed securities		119,367,152		3,306,932		43,694		122,630,390
Fixed maturities		614,298,854		32,909,970		610,646		646,598,178
Equity securities		7,238,803		606,440		407,705		7,437,538
Totals	$	621,537,657	$	33,516,410	$	1,018,351	$	654,035,716

Summary of amortized cost and estimated fair value of fixed maturities by contractual maturity

	Amortized Cost		Estimated Fair Value
Held to maturity
Due in one year or less	$	1,000,000	$	1,011,510
Due after one year through five years		31,815,724		32,965,749
Due after five years through ten years		9,093,408		9,552,594
Due after ten years		—		—
Residential mortgage-backed securities		191,064		205,886
Total held to maturity	$	42,100,196	$	43,735,739
Available for sale
Due in one year or less	$	8,942,472	$	9,003,925
Due after one year through five years		62,233,761		64,199,249
Due after five years through ten years		181,558,392		192,859,072
Due after ten years		276,832,736		299,591,597
Residential mortgage-backed securities		125,606,445		128,855,978
Total available for sale	$	655,173,806	$	694,509,821

Schedule of Investments in affiliates

	2012		2011
DFSC	$	36,770,530	$	31,857,246
Other		465,000		465,000
Total	$	37,235,530	$	32,322,246

Summary of financial information

	December 31,
	2012		2011
Balance sheets:
Total assets	$	509,670,100	$	532,938,460
Total liabilities	$	433,490,583	$	466,940,425
Stockholders’ equity		76,179,517		65,998,035
Total liabilities and stockholders’ equity	$	509,670,100	$	532,938,460

	Year Ended December 31,
	2012		2011		2010
Income statements:
Net income (loss)	$	9,401,001	$	4,196,054	$	(556,528	)

Summary of Net investment income, consisting primarily of interest and dividends

	2012			2011			2010
Fixed maturities	$	24,642,897		$	25,044,316		$	23,995,220
Equity securities		85,905			162,934			42,869
Short-term investments		34,482			57,296			91,665
Other		44,874			48,588			46,095
Investment income		24,808,158			25,313,134			24,175,849
Investment expenses		(4,639,239	)		(4,454,955	)		(4,226,135	)
Net investment income	$	20,168,919		$	20,858,179		$	19,949,714

Summary of gross realized gains and losses from investments before applicable income taxes

	2012			2011			2010
Gross realized gains:
Fixed maturities	$	6,730,331		$	4,959,707		$	4,136,455
Equity securities		926,053			8,760,511			1,791,585
		7,656,384			13,720,218			5,928,040
Gross realized losses:
Fixed maturities		42,135			163,316			533,918
Equity securities		754,810			1,275,635			998,402
		796,945			1,438,951			1,532,320
Net realized gains	$	6,859,439		$	12,281,267		$	4,395,720
Change in difference between fair value and cost of investments:
Fixed maturities	$	5,739,506		$	29,646,545		$	(11,571,194	)
Equity securities		(104,660	)		(7,459,314	)		1,547,487
Totals	$	5,634,846		$	22,187,231		$	(10,023,707	)

Summary of Changes in difference between fair value and cost of investments

	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	$	12,308,333	$	43,951	$	—	$	—
Obligations of states and political subdivisions		22,134,226		606,065		—		—
Corporate securities		12,271,750		79,136		2,958,520		29,573
Residential mortgage-backed securities		22,491,562		66,443		—		—
Equity securities		2,226,050		106,748		—		—
Totals	$	71,431,921	$	902,343	$	2,958,520	$	29,573

Summary of fixed maturities and equity securities with unrealized losses

	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	$	—	$	—	$	—	$	—
Obligations of states and political subdivisions		1,638,135		17,390		540,062		21,400
Corporate securities		10,101,753		528,164		—		—
Residential mortgage-backed securities		7,411,682		43,692		626		9
Equity securities		4,083,863		407,705		—		—
Totals	$	23,235,433	$	996,951	$	540,688	$	21,409