These sort of meters can be useful when you do not need much accuracy, but for many capacitors, and perhaps a majority of inductors, readings cannot be accurate unless you are measuring at a known frequency and you are measuring the real and imaginary components of the impedance.
For inductors, do not expect better then 5% with this kind of meter. This style of meter can get 1% or better for capacitors that are very low loss and low inductance, but for other capacitors, the accuracy will be a lot worse.
If you notice they do not actually quote an accuracy at all - they just say the reference cap is 0.5% tolerence.
If you need more accuracy, get a proper LCR meter with selectable test frequencies.
Richard.