There was a survey done in Canada that showed 1 in 10 electricians had experienced a catastrophic meter failure. These are guys using meters all the time, although at typically much higher voltage levels than most of us see.
That is part of what drove the development/specification of pro-level test leads with high interrupt (1,000's of amps) capacity built-in fuses.
If you regularly test above 30 volts, make sure your meter has at least the basic approvals for your geography (CSA, UL, VDE.....). I'm pretty careful with instruments, but will admit to blowing fuses. A good habit to get into is pull the lead from the current (I) socket as soon as you are finished taking your current reading -it's easy to forget, and flick the switch to voltage, connect the leads to a voltage source - boom. At low voltages, the fuse goes - at high voltage, I've seen a Fluke 7x years ago that our Marketing VP fried in the field - the centre 1/3 of that meter PCB was charcoal, but the outer case easily contained the energy burst. That was high voltage DC exposure, not something most people get into (good thing) at home, but a lesser meter would be REALLY scary under those conditions.
For testing AC in the house, most people would be better off using an approved tester that just has indicator lights - Go, NoGo, Faults.
Using a cheapie digital meter on a car/truck/tractor can help you figure out a problem providing you always check the meter connection integrity. I've found that the plating on the connectors is so cheap now, that if the meter sits long enough (I'm not talking out the rain), the connection is actually "Open". If doing 12v checks, regularly measure the battery voltage to make sure your meter leads are working properly. You'll find you have to rotate the connector lead in the socket, to regain connectivity, at least for a little while.
Fixing a problem on a vehicle can be frustrating. Replacing parts, and burning time trying to fix a "problem" that is nothing more than a cheap meter not working properly can be addressed by using a large hammer, then followed by going to buy a Fluke. :thumbsup:
Be safe. If you are unsure about a measurement or connection, go find someone who knows more about electrons than you do.
Rgds, D.