We develop a new framework for measuring and comparing the accuracy of any wireless interference models used in the analysis and design of wireless networks. Our approach is based on a new index that assesses the ability of the interference model to correctly predict harmful interference events, i.e., link outages. We use this new index to quantify the accuracy of various interference models used in the literature, under various scenarios such as Rayleigh fading wireless channels, directional antennas, and blockage (impenetrable obstacles) in the network. Our analysis reveals that in highly directional antenna settings with obstructions, even simple interference models (e.g., the classical protocol model) are accurate, while with omnidirectional antennas, more sophisticated and complex interference models (e.g., the classical physical model) are necessary. Our new approach makes it possible to adopt the appropriate interference model of adequate accuracy and simplicity in different settings.