Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes [Abstract]

Schedule of Deferred Tax Assets and Deferred Tax Liabilities

	December 31,
	2017		2016
Deferred tax assets:
Tax discounting of claim reserves	$	454,772	$	730,161
Unearned premium reserve		1,139,002		1,710,498
AMT credit carryforward		103,439		—
Deferred compensation		131,175		356,650
Provision for uncollectible accounts		10,500		17,000
Property and equipment		—		837
Other		71,688		88,393
Deferred tax assets before allowance		1,910,576		2,903,539
Less valuation allowance		—		—
Total deferred tax assets	$	1,910,576	$	2,903,539
Deferred tax liabilities:
Net unrealized appreciation of securities	$	592,005	$	594,575
Deferred policy acquisition costs		964,407		1,415,395
Property and equipment		1,267		—
Other		3,639		5,315
Total deferred tax liabilities		1,561,318		2,015,285
Net deferred tax asset	$	349,258	$	888,254

Schedule of Effective Income Tax Rate Reconciliation

	Years ended December 31,
	2017		2016
Provision for income taxes at the statutory federal tax rates	$	367,246	$	1,355,704
Increase (reduction) in taxes resulting from:
Dividends received deduction		(48,020)		(36,414)
Tax-exempt interest income		(219,550)		(163,011)
15% proration of tax exempt interest and dividends received decution		38,203		29,914
Officer life insurance, net		(546)		(1,292)
Nondeductible expenses		70,329		47,766
Effect of change in tax rate		152,173		—
Prior year true-ups and other		12,450		(55,698)
Total	$	372,285	$	1,176,969