Galilean invariance Updated +Created
A law of physics is Galilean invariant if the same formula works both when you are standing still on land, or when you are on a boat moving at constant velocity.
For example, if we were describing the movement of a point particle, the exact same formulas that predict the evolution of must also predict , even though of course both of those will have different values.
It would be extremely unsatisfactory if the formulas of the laws of physics did not obey Galilean invariance. Especially if you remember that Earth is travelling extremelly fast relative to the Sun. If there was no such invariance, that would mean for example that the laws of physics would be different in other planets that are moving at different speeds. That would be a strong sign that our laws of physics are not complete.
The consequence/cause of that is that you cannot know if you are moving at a constant speed or not.
Lorentz invariance generalizes Galilean invariance to also account for special relativity, in which a more complicated invariant that also takes into account different times observed in different inertial frames of reference is also taken into account. But the fundamental desire for the Lorentz invariance of the laws of physics remains the same.
Lorentz covariance Updated +Created
Same motivation as Galilean invariance, but relativistic version of that: we want the laws of physics to have the same form on all inertial frames, so we really want to write them in a way that is Lorentz covariant.
This is just the relativistic version of that which takes the Lorentz transformation into account instead of just the old Galilean transformation.