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Fair Value of Financial Instruments and Real Estate (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Financial Instruments | The estimated fair values of the Company’s financial instruments and real estate, including their fair value level as of March 31, 2025 and December 31, 2024 are as follows:
| March 31, 2025 |  | December 31, 2024
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Fixed-maturity securities, held-to maturity, Level 1 | $ | 7,046,023 |  |  | $ | 5,976,487 |  |  | $ | 7,047,342 |  |  | $ | 5,959,265 |
Fixed-maturity securities, available-for-sale, Level 1 | $ | 110,128,721 |  |  | $ | 110,128,721 |  |  | $ | 106,792,378 |  |  | $ | 106,792,378 |
Fixed-maturity securities, available-for-sale, Level 2 | $ | 94,153,648 |  |  | $ | 94,153,648 |  |  | $ | 80,101,060 |  |  | $ | 80,101,060 |
Cash and cash equivalents, Level 1 | $ | 37,490,182 |  |  | $ | 37,490,182 |  |  | $ | 28,669,441 |  |  | $ | 28,669,441 |
Premiums receivable, net, Level 1 | $ | 17,012,840 |  |  | $ | 17,012,840 |  |  | $ | 21,766,988 |  |  | $ | 21,766,988 |
Reinsurance receivables, net, Level 3 | $ | 60,818,148 |  |  | $ | 60,818,148 |  |  | $ | 69,322,436 |  |  | $ | 69,322,436 |
Real estate, net of accumulated depreciation, Level 3 (1) | $ | 460,031 |  |  | $ | 940,000 |  |  | $ | 1,913,390 |  |  | $ | 3,540,000 |
Reinsurance balances payable, Level 3 | $ | 5,815,948 |  |  | $ | 5,815,948 |  |  | $ | 10,509,121 |  |  | $ | 10,509,121 |
Debt - 13.75 Senior Notes due 2026, Level 2 | $ | - |  |  | $ | - |  |  | $ | 5,508,000 |  |  | $ | 5,553,785 |
(1) As of December 31, 2024, real estate consisted of a complex which included an office building, a house and vacant land located in Kingston, New York. In March 2025, the office building and house were sold, leaving the vacant land as the only remaining real estate as of March 31, 2025. See Note 14 - 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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