This article aims to compare the so‐called iterated perturbation theory (IPT) and auxiliary master equation approach (AMEA) impurity solvers for a Mott insulating system driven out of equilibrium by a static electric field. Electronic heat bath and optical phonons are employed as dissipation mechanism of the current‐induced Joule heat that the excited electrons of the lattice experience as the result of the field's driving. Despite its simplicity, the IPT approach yields results that qualitatively are in good agreement with those obtained within the AMEA impurity solver, although fails to reproduce some correlation effects.