A copy paste Cover Letter is the biggest mistake You can do.
Is the first idea you give about Yourself. The possible employer see that letter before to look at CV.
MUST BE HIGHLY FULL OF PERSONALISATION.
A smart trick is include a questions about what You found on the company site. Must be a serious question related to the position You are applying for.
Wording must be appropriated to the target, also the words must be the part of the "slang" of the business sector.
The more You look like them the more You are accepted.