Hey
Not that I know of, directly, but that's about the going rate for renewals. Personally, I'm a fan of paying for good service vs cheap as possible (which is why I left GoDaddy, but any-who). Currently I'm using hover.com and I'm quite satisfied, but it's $15/yr for renewals.
All that aside, $11 (or even $15) is pretty dang cheap
per year. That's, what, about $1 a month? Whens the last time you had a Starbucks, or ate out, or used a soda/snack vending machine? Just sayin' it's very cheap compared to other expenses in life. Meh.
On a side note, a lot of hosting providers have free renewals now w/their service.
Ok, I'll get off my soap box now. Hope you can find something cheaper!
Edit: Depending on how many domains you're looking at, you might want to consider bulk/reseller accounts. You might have to do a min of 10 or 20 or so, but it's cheaper per domain for most transactions. I forgot to mention that earlier.