Given your use case, i.e. daily expenses, both Electrum wallet & Hardware wallet will provide same level of security.
This is not true. A hardware wallet is meant to protect your funds against software attacks. It's much, much more difficult to create malware that steals funds from a hardware wallet than it is to steal funds from a hot Electrum client.
True. But, malware is not the only attack vector that HW needs to withstand. There are other vectors, like compromised RNG, compromised Firmware etc. exists for HW, which is not there for open source SW. So, one can't really say that a hot wallet on HW is more secure than a hot wallet on SW, just because SW is more susceptible to malware attack.