To assess power devices' reliability, it is crucial to have a relatively accurate thermal approach which provides valid temperature estimates. In this paper, for two commonly used Si IGBT and SiC MOSFET power modules, the electric current-induced effects on bond wires and the correlation between the non-uniform temperature distribution and electrical conductivity of the sensitive constituent materials are studied. In addition, a more realistic active area of the modules is defined by excluding inactive regions, i.e., the gate area, gate runners, and termination ring. Also, the electric current distribution among parallel bond wires attached to the dies' metalization pads is investigated. Comparisons made between an approach which includes all the above aspects with a conventional one where uniform heat is injected into semiconductor dies, although showing acceptable error in Si IGBTs, result in a very significant difference in SiC MOSFETs.