Overvoltage protection apparatuses, systems and methods for variable frequency motor drives are disclosed. In an exemplary embodiment, a variable frequency motor drive system including a rectifier, a DC bus electrically coupled with the rectifier, and an inverter electrically coupled with the DC bus is provided. A protection device electrically coupled with the rectifier and configured to interrupt power supply to the system based upon fault conditions is provided. A controller is provided and configured to receive information indicative of a voltage of the DC bus, process the received information to model a condition of at least one component of the variable frequency motor drive, and control the protection device to interrupt power supply to the variable frequency motor drive if the modeled condition meets a fault criterion.