The conservative answer is yes but it depends on the laws and regulations within the state you operate in. Some states may or may not require your business to secure coverage.  Each state has their own system and they give exclusions to some specific businesses.  Checking with your state governing agency can help you determine if you even have to secure coverage. In some states you can shop around, in other states you must purchase your workers comp from a state appointed broker.  On the other hand if you are not required to secure coverage but do have employees, it is in your best interest to secure coverage. One exception might be that you or your small business has a large supply of cash ready to cover the cost related to an injured employee.

Here are two links for our state of TN workers comp information:

https://tnbear.tn.gov/wc/

https://sos.tn.gov/business-services/wc