I have found the Chinese ATmega328 transistor testers perform well as general purpose LCR meters. For $20, you can get a nice enclosure kit and get the experience of assembly. I have built five or six of these and given them away to people just starting out in electronics.
Those are based on this project on mikrocontroller.net.
They are really nice as you can just plop a component in it and it will identify it and show the pinout. Passives as well as many semiconductors. But put a linear voltage regulator in it and it will probably identify it as 4 or 5 diodes.
I would guess they are not as good, in both range and accuracy, and dedicated LC meters.
I have built one myself based on the same project.
It measures as low as about 12µH and 10pF.