Creating different wallets from the same seed is actually the reason why seed extension support was added to electrum in the first place. However, you have to keep the seed secure. Don't expose it to some website or altcoin wallet. The seed extension can be as simple as 1,2,3 etc. I don't recommend an over complicated seed extension because you are likely to forget that and lose funds that way. So keep it simple and it'll be fine for the usecase you mentioned before:
The thing is, that with all the shitcoin-hardforks of bitcoin, you always have to handle individual private keys. And while I'm super caution to never let a private key and the master public key touch the same physical machine, I'm still paranoid. Especially about shitcoin clients, which may unannounced to me, leak the private key to a 3rd party, that then just waits for the corresponding xpub to emerge one day and cleans out my wallet.