The WT111M has two different sized anvil crimpers, while the WT112M has an anvil crimper and a flattened oval type crimper.
I use an anvil crimper for everything, insulated and non-insulated. Technically, an anvil crimper is supposed to be for non-insulated, and a flattened oval type crimper is supposed to be for insulated. Personally, I think the flattened oval type crimp is useless as teats on a bull, and they are never used for anything serious (i.e., a factory would never use one for anything).
The reason you are not technically supposed to use an anvil crimper on insulated terminals is because the anvil can damage (punch through) the insulation. I couldn't care less about that and I use the anvil crimper because the crimps they make are stronger than the wire itself (i.e., the wire would break long before it would ever pull free from the terminal).
If you want a dedicated insulated terminal crimper that makes professional, consistent crimps that look like the crimps made in factories, get a racheting die-based crimper, like the
S&G Tool Aid 18900 Professional Ratcheting Terminal Crimper. That particular crimper is inexpensive and relatively high quality. This is what an
electronic genius from an arcade forum that I frequent said about it:
"Excellent Ratcheting Crimper. Not sure why the other cheap crimpers even exist after using these."
I don't have a pair of those because like I said, I just use an anvil crimper like ones in your picture for everything (not pretty, but it definitely works), but I definitely trust this guy's judgment when it comes to electrical matters. For example, he reverse engineered a security board for a ~25 year old Nintendo arcade machine and designed and fabricated his own replacement circuit board, recreating the original logic using an FPGA that he programmed. It worked too; I know because he sent it to me to fully test it in my machine because I'm an expert at the game it is designed to be used for, while he can't get far enough in the game to really test it.