Yes. You should just purchase a workers' compensation policy from your insurance agent. If you later decide to drop your workers' compensation coverage, you must file the Exempt Employers Withdrawal of Notice of Acceptance (Form I-9).
If you purchase a policy, you may remain subject to the workers' compensation requirements until a Form I-9 is received by this Bureau. If you drop your coverage and do not file a Form I-9 and an injury occurs, you could be held responsible for that claim.
Tennessee Department of Labor/Bureau of Workers' Compensation