Looking at the website for Bluecolt there's very little info about them but I can tell you that particular model is quite a common "clone-fire" light. Probably not bad, considering it's got an a Cree MC-E led in it but the MC-E has been superceded by the Cree XM-L led. One thing good, at least they're being honest about the lumen figure. 400 lumens is realistic, if not a bit under-rated in terms of MC-E output, but considering the 5 mode driver I'd say it's 400 lumens because those 5-mode generic drivers usually are only good for 1.5 amps of current draw.
But in terms of size that particular light is pretty bulky with a 55mm head.
There are better lights to be had, BUT you have to give us more information. Things like if you'd prefer a floody, or throwy light, what kind of things you inspect more specifically, definitely include price range because you can go anywhere from $20 to $200 and even more.
But I'm assuming you're not a flashlight hobbyist just yet and you probably want to keep the budget as low as possible but still have out of the box reliability I'd say go with the Solarforce M8. It's got several options allowing multi-modes and 2 cell operation. With 2 cell and the tactical switch you're looking at 780 lumens which is really bright. The good thing too is that it happens to be compatible with the existing battery and charger that you probably already use with the Bluecolt stuff, ie 18650.
I have a Trustfire TR-J12 with 5 Cree LEDs and 3 26650 batteries. It will light a large space like a 120v floodlight. I know Trustfire is not the best of brands, but tis one has served me well. You could also mod a Maglite into an ROP for great light. More throw, less spill than the TF light.