Is the 2.0 fuel injected engine in the 1987 Accord considered an interference engine? If the timing belt breaks is there a high probability that major damage will occur to the valves and the pistons?

 

Yes the engine is an interference type....pistons can hit the valves.

It's easy to check for bent valves before replacing the belt.
Remove the old belt and turn the crank 90 degrees from TDC. Pistons will be 1/2 up in the cylinders.
Next, with the top belt cover, valve cover and spark plugs removed you can rotate the cam until each cylinder has closed valves.[cam lobes at 4'O'clock & 7'O'clock] When the cylinder has closed valves you can use a tight fitting hose in the spark plug hole and Blow into the cylinder to 'feel' for back pressure.