Do I need to transfer changes to child theme to prevent future crashes from parent theme updates?

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I’ve had a previous developer build out my website but it was terrible so I had a new developer finish it. Everything was great until a couple of days ago my parent theme updated and messed everything up. My current developer says that the last guy never set up a child theme and he need to do that and transfer all the changes from the parent theme to a child theme so this doesn’t happen again. He’s quoting me $400 to do this. Is this an accurate quote and the right thing to do to prevent this from happening again? Thanks in advance.

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