if you setup a virtual maschine where you just have electrum, it should be as safe as a cold storage then right?
Anything that have access to the internet, shouldn't be considered as something safe, If you are speaking about Electrum servers, then no, the servers only know the addresses you are controlling and nothing else. If you are speaking about the servers of VMware or whatever software you are using then I doubt it as those companies have a reputation to maintain.
If you want something safe and you have a lot of bitcoins while contiuing to use them on a regular basis then I would go with Hardware wallets (Ledger Nano S) to be more specific.