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Fair Value of Financial Instruments and Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Financial Instruments | The estimated fair values of the Company’s financial instruments and real estate as of December 31, 2024 and 2023 are as follows:
|  | December 31, 2024 |  | December 31, 2023 |
|  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value |
Fixed-maturity securities-held-to maturity, Level 1 |  | $ | 7,047,342 |  |  | $ | 5,959,265 |  |  | $ | 7,052,541 |  |  | $ | 6,106,148 |  |
Fixed-maturity securities available-for-sale, Level 1 |  | $ | 106,792,378 |  |  | $ | 106,792,378 |  |  | $ | 91,046,936 |  |  | $ | 91,046,936 |  |
Fixed-maturity securities available-for-sale, Level 2 |  | $ | 80,101,060 |  |  | $ | 80,101,060 |  |  | $ | 57,873,861 |  |  | $ | 57,873,861 |  |
Cash and cash equivalents, Level 1 |  | $ | 28,669,441 |  |  | $ | 28,669,441 |  |  | $ | 8,976,998 |  |  | $ | 8,976,998 |  |
Premiums receivable, net, Level 1 |  | $ | 21,766,988 |  |  | $ | 21,766,988 |  |  | $ | 13,604,808 |  |  | $ | 13,604,808 |  |
Reinsurance receivables, net, Level 3 |  | $ | 69,322,436 |  |  | $ | 69,322,436 |  |  | $ | 75,593,912 |  |  | $ | 75,593,912 |  |
Real estate, net of accumulated depreciation, Level 3 (1) |  | $ | 1,913,390 |  |  | $ | 3,540,000 |  |  | $ | 1,992,529 |  |  | $ | 3,540,000 |  |
Reinsurance balances payable, Level 3 |  | $ | 10,509,121 |  |  | $ | 10,509,121 |  |  | $ | 12,837,140 |  |  | $ | 12,837,140 |  |
Debt - 13.75% Senior Notes due 2026, Level 2 |  | $ | 5,508,000 |  |  | $ | 5,553,785 |  |  | $ | — |  |  | $ | — |  |
Debt - 12.0% Senior Notes due 2024, Level 2 |  | $ | — |  |  | $ | — |  |  | $ | 18,426,247 |  |  | $ | 17,812,500 |  |
(1) Real estate consists of a complex which includes an office building, a house and vacant land located in Kingston, New York. See Note 20 - Subsequent Events, Sale of Real Estate.

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- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-10 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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