0.01mh-20H, Is that a good range for an inductance meter?
10uH is a reasonable bottom limit for a low cost inductor tester. You get what you pay for (if you're lucky).

One thing you should be cautious about is the frequency it uses to test the inductor. Inductors, more than any other passive component, are fussy about their intended range of operating frequency. Iron-cored inductors will look bad at kHz frequencies. Ferrites, especially ones intended for SMPS use, will have higher losses at their intended operating frequencies than at low kHz. Unless you are measuring in the operating range of frequencies, treat loss measurements as nothing more than crude indications, and inductance measurements with suspicion. If you are lucky, that instrument will specify what frequency it uses. If you are very lucky, it will allow you to select it.

I certainly agree with the comments @marcus and @janka below that a scope is better than a cheap inductance meter for accurate measurements, but for $10, it's not going to be an either/or decision. I'd get the multi-function meter and get a scope and sig-gen when I could afford them.