Probably one of the hardest things to do with an Internet business is remembering to renew the domain names you own. Even though there are several web and domain hosting sites that offer automatic billing; you have the option to bypass this when your purchase them. If by chance you've forgotten to renew your domain names then you just have to take a different approach.

If we took a survey we would hear that most people just let the domains go and purchase a new one. However, this can be detrimental if you own a business, and even more so if its doing well. The good news is; you do have opportunities that will help you get your domain names back before they are sold to someone else.

You've Got 30 Days!

When your domain names expire you can still get them back. Each one of them will come with a grace period of 30 days before they end up being up for sale again. The only problem is you will have to pay a penalty fee for letting them expire, and sometimes this can be a little too much to bear. It really depends on how determined you are to keep your domains, or whether it's in your best interest to let them go. Sometimes this can be the best option, especially if you can find better domain names for less.

Getting Insurance

Okay, so you're not purchasing an insurance policy for your domain names, but using an alternative as insurance is possible. Check to see if the company you're using offers a "backordering" option. It's definitely not the best option, but it's still a choice you can utilize. When your domain has been purchased by someone else you can place a backorder, but it could take years to get it back. So even though there is a possibility you might have to be patient.

Contacting the Purchaser

Just like the grace period will cost you more money, purchasing domain names from the buyer can be costly as well. In fact, we've seen prices shoot up 1000% overnight. Then again; some of them will just ask to be reimbursed for their own costs, so it never hurts to contact them. How important are your domain names? Once you're able to answer this question you will know whether or not this option is worth doing.

Alleviate the Problem

There are two things you need to do in order to keep this from happening. The first is keeping track of when your domain names expire. This can be done on your computer, your notebook, phone, or anything else that will help you remember. The other thing you should do is purchase your domain names for more than one year.

Most people are on a budget when they first get started with a website, which is why they opt for a 1-year plan. However, you can purchase your domain names for 5 years, and most importantly you will receive a discount in the process. This can be a huge advantage if you need to look at the long term picture.